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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A sharp run-up in the stock, a long-time investor’s exit with windfall gains and a dramatic slump—the Thrissur-based company is a lesson in how not to flog an idea.
On 14 January, Thrissur-based Kalyan Jewellers held an earnings call, notice for which was sent to stock exchanges just a day prior. Except there were no earnings to be discussed (the company announced its fiscal third quarter results two weeks later).
It gets curiouser. The call, which had the company’s promoters and top management—including executive director Ramesh Kalyanaraman and chief executive officer Sanjay Raghuraman—in attendance, did not have a formal agenda. They began fielding questions from equity analysts who tracked the company and the jewellery sector right away.
The questions themselves were not the usual ones posed at such calls. …
The watchmaker dominates the mass segment, but its relevance lies in going upmarket.
The B2B marketplace has done almost everything right, attracting value investors like Pulak Prasad. Yet, the stock continues to languish.
While its peers headed for the exit, the fund house doubled down on the falling stock. The contrarian call now looks expensive—and risky.
