Kalyan Jewellers shares tank 14%, fall for 9th consecutive session. Should investors exit?
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Shares of Kalyan Jewellers tumbled as much as 14% to their day’s low of Rs 390 on the BSE on Wednesday, continuing its bearish run on Dalal Street for a 9th consecutive session. With today’s fall, the counter is down 25% over the same period. In the first 14 sessions in 2026, the stock has ended in the green only three times. The bearish run coincides with gold prices surging to fresh record highs of nearly Rs 1.6 lakh per 10 grams. When gold prices rise sharply, jewellery becomes more expensive, leading to postponement of purchases. Mass and mid-market consumers tend to cut back, causing a decline in volume growth, particularly for plain gold jewellery. While volumes may soften, revenues can still grow because of higher gold prices. However, this growth is price-led rather than demand-led. For jewellery makers, this often results in higher ticket sizes but fewer units sold. Last week, the company appointed Radhika Ramani and C.R. Rajagop...