Motilal Oswal AMC’s clarification on its investments in Kalyan Jewellers has helped the jeweller bounce back from its declining share prices, with a 7 per cent increase in trading on Monday. The company’s shares are currently trading at ₹535 on the BSE.
In a statement, Motilal Oswal AMC refuted the social media allegations of bribery in relation to Kalyan Jewellers, calling them “baseless, malicious, and defamatory.” They urged investors not to believe these allegations and stated that they are aimed at spreading misinformation.
Kalyan Jewellers also addressed the issue in its recent earnings call, denying any IT raids or bribery accusations. The company reported a 41 per cent year-on-year revenue growth in Q3 FY25, attributing it to increased demand during the festive and wedding seasons.
Akshay Agarwal, Managing Director of Acumen Capital Markets, noted that Kalyan Jewellers’ share price experienced a significant decline of around 35 per cent, aligning it with other midcap stocks that have also faced losses. He expressed optimism that with continued growth expected, the company could outperform the market in the future.
Overall, Motilal Oswal AMC’s clarification has had a positive impact on Kalyan Jewellers’ share price, indicating a potential turnaround for the company.
Published on January 20, 2025.
