New Delhi, Jan. 22 -- Kalyan Jewellers has had a rough start to 2026, with the stock sliding 17.5% this calendar year, lagging peers. On Wednesday, Kalyan Jewellers' stock slid to its 52-week low of Rs.390, plunging 12% and remaining deep in the red, while peers are up 0.4-4.5%. Sky Gold and PC Jeweller have slipped too, but only marginally, by 0.4-1%.

In the 2026 calendar year, PN Gadgil is down 9.6%, Sky Gold and Diamonds 2.6% and Senco Gold 2%, while Titan is marginally up 1%. PC Jeweller and Thangamayil Jewellery stand out on the upside, rising 11.2% and 16.4%, respectively.

Three people aware of market developments told Mint that the recent drop in Kalyan Jewellers' stock price is likely linked to selling pressure from mutual funds...