Motilal Oswal AMC’s Asset Director issued a statement on Sunday to address rumors regarding investments in Kalyan Jewellers. La Maison du Fonds dismissed speculation that its fund managers were bribed to invest in Kalyan Jewellers, labeling such claims as “baseless, malicious, and defamatory.” The statement emphasized that these accusations circulating on social media are a deliberate effort by interested parties to tarnish the reputable image that the company and its leadership have cultivated over the years.
Kalyan Jewellers’ management, facing pressure for the past 15 days, had previously refuted these claims during an analyst conference last week.
In a final note, Motilal Oswal condemned the attacks on his integrity, highlighting the firm’s nearly four-decade legacy of ethical practices and transparency. He stated, “We have consistently demonstrated the highest standards of integrity, compliance, and performance. Our corporate governance history is strong, and no violations have been reported in connection with the allegations on social media.”
The Fund House urged individuals to disregard these unfounded and unethical attempts to spread misinformation, advising stakeholders to rely on credible and verified sources of information. In reiterating its investment strategy, Motilal Oswal AMC expressed confidence in constructing portfolios grounded in strong conviction, particularly focusing on Alpha and opportunities within market movements. The stock experienced a 16% decline last week, with a more than 30% drop over the past month, despite having surged up to 940% since its listing in March 2021. This turmoil also affected Motilal Oswal’s shares, which fell nearly 7% last week.