Whalesbook
Arey yaar, yeh PM Modi ka appeal na, jewellery stocks par bhaari pad gaya. Jab PM ne 11 May ko gold ke baare mein kuch kaha, toh Kalyan Jewellers ka share toh ek din mein hi 9% se zyada gir gaya. Aur phir agle do sessions mein 13% aur toot gaya, bas 52-week low ke paas pahunch gaya tha.
Iske saath hi Titan Company aur Senco Gold jaise shares bhi girne lage. Investors ko lagta hai ki government shayad gold imports par duty badha de ya kuch aur strict niyam laaye, isliye sab ne selling shuru kar di.
Waise, yeh sab tab hua jab Kalyan Jewellers ne apna naya 'Gold4India' initiative launch kiya tha. Iska goal hai ki log apna backup rakha hua gold dekar cash lein. Isse company ka target hai saal mein 5 tonnes gold imports kam karna aur desh ki forex reserves bachana. Unhone 342 stores par 'Encash Gold' counters bhi khol diye hain.
Aur haan, high gold prices ko dekh kar company lighter, 18-karat gold jewellery ko promote kar rahi hai, 22-karat ki jagah. Isse sales volume badh sakta hai.
Sabse funny baat toh yeh hai ki company ke Q4 FY26 results toh ekdum zabardast aaye the! Net profit 118.2% badhkar ₹409.5 crore ho gaya aur revenue 66% jump karke ₹10,274.9 crore pahunch gaya.
Agar compare karein toh, Titan Company ke muqable mein Kalyan Jewellers ki valuation abhi bhi kam hai (market cap around ₹376.55 billion), par profit growth toh Kalyan ki zyada tez thi.
Par market hai bhai, kab kya ho jaaye pata nahi chalta. Lekin analysts abhi bhi Kalyan Jewellers ko buy karne ki salaah de rahe hain. Jaise ICICI Securities ne target diya hai ₹670, Motilal Oswal ne ₹575, aur Citi ka target toh ₹750 hai, matlab 94% tak ka upside dikha rahe hain!
MarketsMOJO ne 'Hold' bola hai, par bol rahe hain ki thoda caution rakho.
Analysts ko company ke expansion plans, debt kam karne ki koshish aur result pasand aa rahe hain, par yeh government appeal wala factor filhaal stock ke liye ek bada hurdle bana hua hai.