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Home News Kalyan Jewellers share price cracks 10% on block deals buzz

Kalyan Jewellers share price cracks 10% on block deals buzz

Kalyan,

Over 10% of Kalyan Jewelers India’s shares were lost. In a significant trade at Rs 105 in the early trading session on Tuesday, block deals discuss the exchange of 2.74 percent equity. In the last five trading sessions, the stock has lost more than 8%.

Approx 2.8 crore shares (2.74% value) worth 312 crore hands have changed on a normal 108 for each offer on Tuesday, as indicated by a CNBC-TV18 report. The update could not be independently verified by Mint.

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 net benefit of the jewelery retailer was 134.5 crore in the October-December quarter of the last monetary 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. The company announced its intention to open 52 showrooms in 2023 during the recently concluded quarter.

“Despite the sustained rise in the price of gold, we are witnessing an uptick in revenue and footfalls across all markets, primarily driven by demand from the ongoing wedding season. Over the past three, we have put in a lot of time and effort as part of this strategy. constructing our internal resources took four months. “Before Akshaya Tritiya, we have massively hired around 900 personnel for over 20 showrooms, which is the highest ever in the history of the company and the highest ever employee growth in a single quarter,” executive director Ramesh Kalyanaraman of Kalyan Jewelers India stated in the earnings release.

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