Read on the application
Kalyan Jewelers Share: Shares of Kalyan Jewelers India rose 6 percent on BSE in intraday trade on heavy volume on Thursday to Rs. It reached a record high of 246.95. In comparison, the S&P BSE Sensex was down 0.05 percent at 65,051 at 10:55 am. NSE and BSE saw heavy trading activity over the counter with a combined 3.2 million shares exchanged so far.
Strong return in three months
Kalyan Jewellers’ share price has gained 134 per cent in the last three months on the back of strong June quarter (Q1FY24) earnings and a healthy business outlook. The company reported a 31 percent year-on-year increase in consolidated revenue from operations in Q1 FY24 to Rs. 4,387 crore has been recorded.
What the company said
In the Q1FY24 earnings call, the company said it has seen continued strong growth in customer growth across all markets in India and the Middle East over the past few quarters. The management is excited about the upcoming new showroom launch. They have said that they are preparing new collections for the upcoming festivals and wedding season across the country. The company has ambitious plans to open more than 50 showrooms in FY2024. In its FY23 annual report, the company said that organized jewelery retailers are expected to post robust revenue growth of 23-25 per cent in the current fiscal.