Kalyan Jewellers jumps ~13% on block deal news

16 Jun 2023 , 03:15 PM

In Friday’s trading session, the shares of Kalyan Jewellers experienced a significant surge of almost 13% to reach Rs 128.60 on the NSE. This increase in stock value was a result of multiple block deals that took place. The buying activity for the stock was robust, as approximately 52 lakh shares traded in early morning session on Friday.

As per reports, as many as 6 block deals, aggregating to 6.41 crore shares or 6.2% equity of the company changed hands.

On Thursday, the company informed the bourses that it also made some appointments to key managerial positions. The company said that it has reappointed TS Anantharaman’s reappointment as Non-Executive Independent Director for a three-year term beginning December 15.

His reappointment shall be subject to shareholder approval, according to an exchange filing.

Kalyan Jewellers’ shares gained nearly 15% in June, but the movement was bidirectional, creating opportunities for both buyers and sellers.

At around 3.08 PM, Kalyan Jewellers was trading 13.13% higher at Rs 129.20, against its previous close of Rs 114.20 on NSE. The counter hit an intraday high of Rs 129.65.

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