Gold is at record high, but Kalyan Jewellers's stock falls
Gold is on a wild ride—prices have jumped 162% in just two years, but surprisingly, Kalyan Jewellers's stock has fallen roughly 36% from its recent high, with reported declines of about 24.86% over one month and about 38.82% over six months.
What's going on?
Why the stock is falling
Even with gold at record highs, not every jewelry company is cashing in.
Kalyan's sales and revenue are up (42% year-on-year growth in the September quarter!), yet the stock keeps falling.
For young investors or anyone curious about markets, it's a reminder that strong business numbers don't always mean happy shareholders.
What to watch for next
It comes down to trust and rumors. Investors are worried about high promoter pledges (nearly 25%), big foreign investors pulling out, and swirling rumors about tax raids and private jets—even though management denies them all.
It shows how much market confidence can matter, sometimes even more than profits.