Stocks to watch tomorrow: Mumbai-based asset manager Motilal Oswal Asset Management Company (AMC) on Sunday, January 19, released a statement regarding its investment in jewelery manufacturer Kalyan Jewelers.
The fund house has denied allegations that its fund managers were involved in a bribery scheme to buy up shares in Kalyan Jewelers, saying there have been “unfounded, malicious and defamatory allegations” against the fund house. It’s spreading on social media.”
“We categorically deny the unfounded, malicious, and defamatory allegations being spread on social media against MOAMC and its staff. This is a deliberate attempt by individuals with vested interests to tarnish the good reputation built over a decade,” Motilal Oswal said in an official statement.
The fund house also said such attacks on its integrity are completely unacceptable to the asset manager.
“Such unfounded attacks on our integrity are completely unacceptable to us. At Motilal Oswal Financial Services (MOFSL), we have a nearly 40-year commitment to ethical practices and transparency. “We have a long tradition,” they said.
The company called on shareholders “not to believe in baseless and unethical attempts to spread false information” and assured AMC that it would take all necessary steps to protect its reputation and trust with investors. Guaranteed.
Kalyan Jewelers stock price
Kalyan Jewelers India Limited shares closed 6.93% lower. INRIt was 501.65 after Friday’s market session. INRThe previous market close was 539.
The company’s stock hit a 52-week high. INR794.60 on January 2, 2025, the lowest level in 52 weeks. INR322.05 on February 1, 2024, as per BSE data. Kalyan Jewelers’ market capitalization was over 50,000 billion yen as of the market close on January 17th.
The company’s stock has returned investors more than 560% over the past five years, and more than 37% over the past year. Year-to-date (year-to-date), the stock has fallen 35% in 2025.
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