Sign In  |  Register  |  About Walnut Creek Guide  |  Contact Us

Walnut Creek, CA
September 01, 2020 1:43pm
7-Day Forecast | Traffic
  • Search Hotels in Walnut Creek Guide

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

What’s going on with the Kalyan Jewellers share price?

By: Invezz
What's going on with the Kalyan Jewellers share price?

Investors seem to have a shiny new target these past couple of days: Kalyan Jewellers. Search terms like ‘kalyan jewellers share price’, ‘nse kalyan jewellers’ and ‘kalyan jewellers share price’ have recently gone up by more than five thousand percent in the United States, India and the Middle East.

The question, though is: why?

What is Kalyan Jewellers?

Kalyan Jewellers is a chain of stores selling fine Indian jewellery and is based in India, as well as the Middle East. Although the family-run business has only been a publicly traded company since 2021, it hails all the way back to 1908 in its native India, according to its website.

Since then, it has expanded into more than 200 showrooms throughout India, Dubai and across the Middle East. Kalyan Jewellers deal in a number of modern and traditional Indian jewellery styles using gold, platinum, diamonds and various gemstones.

The Kalyan Jewellers share price

The share price for Kalyan Jewellers climbed more than 3.4 percent today on January 8th. At one point in the trading day, its share price was ₨379.35 – its highest share price in a year (ie 52 consecutive weeks).

In fact, the Kalyan Jewellers’ share price opened the 2024 at around ₨361.13, representing a steep incline in just eight short days.

Why is the Kalyan Jewellers share price going parabolic?

Kalyan Jewellers has announced a number of exciting new developments lately.

Perhaps most recently, Kalyan Jewellers announced on January 5th that it would be opening its 250th showroom store in the current financial quarter, along with 30 other shops throughout India and the Middle East by the end of Q4 of the 2023 financial year.

At around the same time, Kalyan revealed that it would be making changes to its franchise model as well, converting some of its most recently opened stores into franchisee-owned and operated. This represents a significant shift for the family-run business of Kalyan.

In the wake of this change, Kalyan Jewellers plans to open another 80 stores, all franchisee-operated and owned, within FY2025. This will bring Kalyan’s fooprint total up to 330 stores approximately, making it one of the brands with the largest presence and footprint throughout the Middle East and India region of Asia.

Candere, the ecommerce jewellery brand which is approximately 80 percent owned by Kalyan, has also achieved significant expansion. Kalyan massively expanded Candere’s presence, opening more than 25 stores in the past financial year where, in the past, Candere had just two.

Good as gold

Apart from all this, the financials at Kalyan appear to be looking good, too. In its latest financial results, the company reported that revenue had grown YoY by around 30 percent in Q3 of FY2023

All this seems to suggest that Kalyan Jewellers may be one to watch going forward.

The next date for Kalyan Jewellers announcing its latest quarterly financial results has not yet been formally announced, but is believed to be around February 1st 2024.

The post What's going on with the Kalyan Jewellers share price? appeared first on Invezz

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 WalnutCreekGuide.com & California Media Partners, LLC. All rights reserved.