Kalyan Jewellers' stock price up by more than 18% in the past 4 days

5 Dec 2022 , 11:05 AM

In Monday’s intraday session on the BSE, Kalyan Jewellers shares rose 6% amid large volumes in an otherwise volatile market, and the stock reached a new high of Rs 116.35. After making its debut on March 26, 2021, the stock was now trading at its highest level. The stock has increased 18% over the last four trading days based on anticipated positive earnings. At 10:19 a.m., the S&P BSE Sensex was trading 0.5% lower at 62,659. The NSE and BSE have seen a total of 6.83 million shares sold thus far.

With the current increase, the stock trades 34% above its initial public offering price of Rs 87 per share. A record low of Rs. 55.20 was reached on May 11, 2022, and since then, it has increased by 111%. The company’s consolidated sales increased by 20% year over year (YoY) to Rs 3,473 crore from July through September (Q2FY23). The whole profit after tax increased 53.6% to Rs 106 crore.

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