Kalyan Jewellers Share: Declines amid US tariff concerns & promoter disclosure

Kalyan Jewellers India Limited’s stock declined 0.83 per cent to ₹506.85 on the NSE today at 11.40 am, with shares trading between ₹497.90 and ₹514.40. This movement follows yesterday’s regulatory disclosure from the company.

The disclosure, dated April 1, 2025, confirmed to BSE and NSE exchanges that except for previously disclosed encumbrances (161,326,883 shares pledged by T.K. Ramesh and T.K. Seetharam), no other promoters or promoter group members have created encumbrances on their shareholdings for the financial year ended March 31, 2025.

Market sentiment appears affected by concerns over newly announced US tariffs, which may significantly impact India’s gems and jewellery exports. According to Prabhudas Lilladher’s analysis, the US market represents approximately 18 per cent of India’s total exports, with jewellery comprising nearly 19 per cent of US imports from India.

The new 26 per cent reciprocal tariff would increase costs for US retailers by around 20 per cent on Indian fine jewellery, compared to previous tariffs of 5-6 per cent on gold jewellery and nearly duty-free status for polished diamonds.

The broader context shows US tariffs affecting multiple Indian export sectors, with textiles facing approximately 26 per cent tariffs (doubling previous rates) and aluminium jumping from 10 per cent to 26 per cent, while pharmaceutical exports and refined petroleum products remain exempt from these new reciprocal tariffs.

Published on April 3, 2025