Heavy Volume for 4 Consecutive Days: FII Highdell Investment to Sell Stake to Promoters; Stock Rallies Over 7 Per cent Today in the Morning Session!
The company’s shares have delivered a multibagger return of over 150 per cent to its shareholders.
Kalyan Jewellers India Limited has announced that its Promoter, Trikkur Sitarama Iyer Kalyanaraman, has entered into a share purchase agreement (SPA) with Highdell Investment Ltd. This agreement, executed on August 21, 2024, involves Highdell selling 2,42,99,066 equity shares, representing 2.36 per cent of the company's share capital, to the promoter at Rs 535 per share, amounting to a total transaction value of over Rs 1300 crore. The completion of this transaction is dependent on the Promoter securing the necessary financing. Once the transaction is finalized, the shareholding of the Promoter and Promoter Group in Kalyan Jewellers will increase from 60.59 per cent to 62.95 per cent.
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At the start of the day's trading session, shares of Kalyan Jewellers opened at Rs 572 per share, compared to the previous day's closing figure of Rs 584.15 per share on the BSE. Currently, the shares are at Rs 574.65 per share. The stock has rallied over 7 per cent today reflecting strong demand in the market. The company's current market capitalization stands at Rs 59569 crore. Additionally, the shares have delivered a multibagger return of over 156 per cent in just 1 year.
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As per the Quarterly Results, in the Q1 FY25, Kalyan Jewellers recorded a revenue of Rs 5535 crore compared to Rs 4376 crore. The operating profit stood at Rs 376 crore. The net profit stood at Rs 178 crore compared to a profit of Rs 144 crore. Looking at the annual performance, the company generated a revenue of Rs 18548 crore in FY24. The operating profit for FY24 was Rs 1368 crore with a net profit of Rs 596 crore compared to a net profit of Rs 432 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.