Friday, February 23, 2024
Home News Highdell Investment offloads stakes worth ₹256 cr in Kalyan Jewellers

Highdell Investment offloads stakes worth ₹256 cr in Kalyan Jewellers

Investments,

Warburg Pincus-owned Hydel Investments sold a little more than half of its stake in Kalyan Jewelers India Ltd. through an open market transaction on Tuesday.

According to the NSE wholesale data, Hydel Investments sold 2,33,25,686 Kalyan Jewelers shares for Rs. 110.04 Based on the figures, the transaction value is 256.67 crore.

However, it was not immediately possible to identify the buyer of the shares.

At the end of the December quarter, Hydel Investments owned 26.36% of the company.

The consolidated profit after tax (PAT) of Kalyan Jewelers India increased by more than 10% in the 148 crores for the quarter that ended on December 31, 2022 (Q3 FY23). The jewelry retailer made 134.5 crore in net profit during the October-December quarter of the previous fiscal year.

The company’s consolidated revenue increased by 13% from 3,435 crore in the prior year to 3,884 crore in the current quarter. During the as of late closed quarter, the organization declared its arrangement to open 52 display areas during the schedule year 2023.

The organization’s stock shut somewhere near 9.77 on Tuesday. 107.15.

The stock’s performance over the past month has also been positive, with investors receiving a return of 2.86 percent. Nonetheless, the stock’s presentation has been generally feeble over the most recent three months with negative returns of – 4.31 percent.

When we examine the company’s performance over the course of a single year, we find that the returns have been impressive at 99.08 percent.

In the meantime, in block data at the NSE, Geetika Shekhar Baja Trust sold Rs. 4,05,000 worth of equity shares in Bajaj Finserv. 1235.

Ananth Baja Trust paid 1235 carry transaction 500 crores to acquire the shares.

On Tuesday, Baja Finserv ended the day down 1.29 percent. 1,223.20 on BSE.

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