New Delhi: The share price of Suzlon Energy and Kalyan Jewellers has been declining in the recent days. The drop in Suzlon stock price is showing no signs of stopping. The counter has once touched Rs 86 and now it is trading in the range of Rs 52. On the other hand, the last few days have been difficult for Kalyan Jewellers and its impact is visible on the shares as well.
Shares of Kalyan Jewelers have fallen by over 12 per cent in a week. The company has also given clarification on the allegations against it, but this has not seen any significant change in the movement of shares. In such a situation, should new purchases be made in Kalyan Jewellers’ shares?
Suzlon share price
Commenting on Suzlon shares, HoR Anshul Jain of Laxmishree Securities said that the stock has a break down of Rs 65.60 and the target of Rs 50.60 is open. Giving his views before the opening of the markets on January 27, 2025, he said that in the last few days, the stock has come down from Rs 56 to Rs 50 and is still seen going to Rs 50.60. If the stock breaks this level, then a big fall may be seen in the stock. At present the stock is seen in the range of Rs 50 to 50.60 paise, the expert opined.
The market expert expected the counter to bounce back from Rs 50.60. This bounce back can come to Rs 60 to Rs 62. But this will happen when a rejection candle is formed in the range of 50-50.5. If this does not happen, then this stock should be avoided, the expert said.
Kalyan Jewellers share price
Senior VP, Mehta Equities, Prashant Tapse said that the investors entry should buy Kalyan Jewellers shares at present. He advised the investors to adopt wait and watch strategy. The jewellery stock has been in the news after it mentioned on the exchanges that the promoters have pledged additional holdings with institutions to avail loan facilities.
Meanwhile, Kalyan Jewellers informed in a regulatory filing that it has has incorporated a wholly owned subsidiary in UK – “Kalyan Gold & Diamond Jewellery Limited.”
“The Business of the Subsidiary is in line with the business of the Company,” the filing added. With this, Kalyan Jewellers aims to “expand the Jewellery business in UK,” the filing mentioned.
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Experts gave their opinion on Suzlon Energy and Kaylan Jewellers as both the stocks have been declining. Suzlon shares are expected to bounce back, an expert said. Another market expert advised investors to not buy fresh holding of Kalyan Jewellers. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
