Kalyan Jewellers share price cracks 10% on block deals buzz
1 min read 28 Mar 2023, 10:22 AM ISTKalyan Jewellers share price more than 10% to ₹105 apiece on the BSE in opening deals
{{^adFree}}
Shares of Kalyan Jewellers India plunged more than 10% to ₹105 apiece in Tuesday's early trading session on block deals buzz of 2.74% equity exchaning hands in a large trade. The stock has cracked over 8% in the last five trading sessions.
{{^adFree}}
Shares of Kalyan Jewellers India plunged more than 10% to ₹105 apiece in Tuesday's early trading session on block deals buzz of 2.74% equity exchaning hands in a large trade. The stock has cracked over 8% in the last five trading sessions.
Around 2.8 crore shares (2.74% equity) worth ₹312 crore have changed hands at an average of ₹108 per share on Tuesday, as per a CNBC-TV18 report. Mint could not independently verify the update.
Around 2.8 crore shares (2.74% equity) worth ₹312 crore have changed hands at an average of ₹108 per share on Tuesday, as per a CNBC-TV18 report. Mint could not independently verify the update.
During the quarter ending December 31, 2022 (Q3 FY23), Kalyan Jewellers India reported an over 10% growth in consolidated profit after tax (PAT) at ₹148 crore. The jewellery retailer's net profit stood at ₹134.5 crore in the October-December quarter of the previous financial year.
{{^adFree}}
During the quarter ending December 31, 2022 (Q3 FY23), Kalyan Jewellers India reported an over 10% growth in consolidated profit after tax (PAT) at ₹148 crore. The jewellery retailer's net profit stood at ₹134.5 crore in the October-December quarter of the previous financial year.
{{^adFree}}
The company recorded a 13% growth in consolidated revenue during the quarter under review at ₹3,884 crore against ₹3,435 crore in the year-ago period. During the recently concluded quarter, the company announced its plans to open 52 showrooms during the calendar year 2023.
The company recorded a 13% growth in consolidated revenue during the quarter under review at ₹3,884 crore against ₹3,435 crore in the year-ago period. During the recently concluded quarter, the company announced its plans to open 52 showrooms during the calendar year 2023.
"We are seeing a robust momentum in revenue and footfalls across all markets largely driven by the ongoing wedding season demand despite a continued spike in gold price. As part of this strategy, we have invested a significant amount of time and effort over the last 3-4 months in building our internal resources. We have hired about 900 personnel largely for over 20 showrooms we plan to launch before Akshaya Tritiya - highest employee addition in a quarter in the history of the company so far," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman had said in the earnings release.
"We are seeing a robust momentum in revenue and footfalls across all markets largely driven by the ongoing wedding season demand despite a continued spike in gold price. As part of this strategy, we have invested a significant amount of time and effort over the last 3-4 months in building our internal resources. We have hired about 900 personnel largely for over 20 showrooms we plan to launch before Akshaya Tritiya - highest employee addition in a quarter in the history of the company so far," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman had said in the earnings release.
{{^adFree}}
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Updated: 28 Mar 2023, 10:24 AM IST