Multi-bagger: Kalyan Jewellers shares jump as 4.63% equity changes hands via multiple block deals

The stock of Kalyan Jewellers gained over 4 per cent in the morning deals on Thursday (February 8), continuing a two-day winning streak and touching an intra-day high of Rs 353.95 apiece. The stock surged after 4.63 per cent or 4.76 crore, of equity shares changed hands via multiple block deals in the pre-opening session.

At around 1:18 p.m., shares of Kalyan Jewellers traded 2.83 per cent or Rs 9.6 higher, at Rs 348.45 apiece. The market capitalisation of the company at around the same time stood at Rs 36,892.2 crore.

Kalyan Jewellers Q3 results 

The company released its third-quarter results on January 31. The company reported a 21.51 per cent growth in consolidated profit after tax (PAT) at Rs 180.37 crore for the December quarter. The company's PAT stood at Rs 148.43 crore during the year-ago period, the company said in a regulatory filing.

Revenue from operations of the Thrissur-headquartered company grew 34.47 per cent during the third quarter of the ongoing fiscal to Rs 5,223.07 crore as against Rs 3,884.09 crore logged in the year-ago period.

The jewellery retailer further stated the company's total revenue from its Middle East operations during the quarter under review was Rs 683 crore against Rs 641 crore seen a year ago, registering a growth of over 6 per cent.

"Consolidated revenue growth for the first nine months of the current fiscal is around 31 per cent and revenue growth in India is 36 per cent driven by robust network expansion along with healthy same-store sales growth," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.

The ongoing quarter has also started well, and we are looking forward to ending the financial year on a strong note," Kalyanaraman added.

Kalyan Jewellers share price: Past performance 

In a year, shares of Kalyan Jewellers have gained over 200 per cent outperforming the Nifty 50's rise of 22 per cent.

(With inputs from agencies)

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