Kalyan Jewellers shares continued their losing streak on January 13, marking a seventh consecutive session of declines. The stock dropped 7% to ₹584, a 20-week low, bringing its total losses to 26% over the past week. Market experts attribute the downturn to heavy profit booking after an extraordinary rally from March 2023 to December 2024, during which the stock soared an impressive 651%. Despite the correction, the long-term fundamentals for the jewellery sector remain robust. Kalyan Jewellers recently posted a strong Q3 FY25 business update, showcasing a 41% year-on-year revenue growth, fueled by festive and wedding season demand across gold and studded jewellery categories. The Middle East division also performed well, with 22% revenue growth contributing 11% to the company’s consolidated revenue. Same-store sales grew by a solid 24% during the quarter. Even with the recent correction, Kalyan Jewellers has delivered remarkable returns, gaining 400% over two years and 751% over three years. The stock has closed 15 out of the last 20 months in the green, with standout gains of 44% in August 2023 and 29% in June 2024.