Kalyan Jewellers Shares Fall 8%. Here's What Happened

Kalyan Jewellers India Ltd. experienced a significant drop in its share price on Tuesday. The stock opened at Rs 538.00 but quickly began to decline, reaching an intraday low of Rs 485.00.

This sharp drop in Kalyan Jewellers' share value has been linked to ongoing social media speculation regarding unfounded claims that Motilal Oswal AMC fund managers were involved in misconduct related to Kalyan Jewellers shares and allegedly accepted bribes to invest in them. Both the AMC and Kalyan Jewellers have issued clarifications, firmly denying these allegations.

The shares of Kalyan Jewellers are currently in the spotlight as investors look ahead to the upcoming 2025 budget session, where there's anticipation of an increase in customs duty on gold.

Additionally, BSE statistics reveal that promoters Seetharam Trikkur Kalyanaraman and Ramesh Trikkur Kalyanaraman have increased their pledged holdings with several financial institutions by 1.85% and 1.65%, respectively. It's common for company promoters to pledge shares as a means to secure loans.