Kalyan Jewellers shares fall 8% amid Motilal Oswal bribery rumours despite clarification

Kalyan Jewellers shares dip beyond 7 percent with continued trading speculations

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26 Aug, 2025 12:21

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Shares of Kalyan Jewellers declined 7.63 percent in early trade on January 21. This comes amid continued social media speculation over false claims that Motilal Oswal AMC fund managers were involved in an alleged misconduct against Kalyan Jewellers shares and were bribed to invest in them. Notably, the AMC as well as the jewellery company  have issued clarification and have denied the claims.

The shares are currently trading at Rs 502.35 ; lower by 5.36 percent.

Officially during an earnings conference call conducted on January 14, Kalyan Jewellers responded to the allegations. It clarified that no income tax raids had taken place at its offices, as suggested by few of the viral media posts. It described the bribery accusations as "absurd".

There were also speculations around the alleged termination of some fund managers at Motilal Oswal AMC over the reported issue. The company categorically denied the claims as well, calling them "baseless, malicious, and defamatory".

Kalyan Jewellers' shares are under focus ahead of the much-anticipated 2025 budget session, wherein expectations are around hike in essential customs duty on gold.