Kalyan Jewellers, Sky Gold, 2 more jewellery stocks turn multibagger since last Akshaya Tritiya indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
ETMarkets analysis reveals the underperformance of jewellery stocks amidst gold s record highs. Most saw negative returns, with a few exceptions. Experts suggest cautious investment strategies with focus on companies fundamentals and long-term prospects.
On Monday, the stock gained 6% and hit a fresh 52 week high of Rs 18.40 on a media report hinting at a possible tie-up between Vi and Starlink to pare entire gains on Tuesday after the company rejected the report. Investor interest remains paramount as the price action has been supported by volume action with over 100 crore shares getting traded in each of the last two trading sessions.
The stock is expected to continue its strong upward momentum in the coming days, derivatives analyst at SAMCO Securities Ashwin Ramani tells ETMarkets. On technical charts, HAL has been moving in higher highs and higher lows since November 23, 2023, he said.