Kalyan Jewellers hits record high on quarterly revenue growth for India ops

Tribhovandas Bhimji Zaveri

05/01/2024 04:19

** Shares of Kalyan Jewellers India  KALN.NS  rise as much as 4.4% to 380
rupees; hits highest level since listing
    ** Stock on track for a 2nd consecutive session of gains, if trend holds
    ** Co says revenue for India operations up about 40% Y/Y in Q3
    ** Added 22 net new 'Kalyan' showrooms in India during qtr - Co
    ** Stock above its 200-day moving avg since June 1, 2023
    ** Avg analyst rating of KALN is a "buy" per LSEG data; PT of 362 rupees is
slightly below current market price
    ** Stock rose 180% in 2023, outperforming 41% gains in TITN and 49% rise in
Tribhovandas Bhimji Zaveri  TBZL.NS  

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))