{"id":63513,"date":"2022-09-15T13:25:00","date_gmt":"2022-09-15T07:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=63513"},"modified":"2022-09-15T14:32:12","modified_gmt":"2022-09-15T09:02:12","slug":"kalyan-jewellers-trades-above-issue-price-brokerage-sees-24-upside","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/kalyan-jewellers-trades-above-issue-price-brokerage-sees-24-upside\/","title":{"rendered":"Kalyan Jewellers trades above issue price; brokerage sees 24% upside.\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1585183193\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The festive season is nearing and the jewellery sector is shining bright as the sales have picked up after the pandemic. The shares of Kalyan Jewellers are dazzling. They have gained more than 18 per cent in the past two days and have reached an all-time high of \u20b9 101.40 apiece on the National Stock Exchange (NSE) amid heavy volumes.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1648926005\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Kalyan Jewellers India Ltd\u2019s shares are trading significantly above their issue price of \u20b9 87 per share. Its shares debuted on the bourses on March 26, 2021. The company\u2019s stock soared 38.86% in the past month as against a 0.49% rise in the Nifty 50 index.&nbsp;<\/p><p>Kalyan Jewellers is one of the largest jewellery retailers in India. It is engaged in the design, manufacture, and sale of a variety of gold, studded, and other jewellery products for various occasions, including weddings and daily wear.&nbsp;<\/p><p>The jeweller has seen a significant acceleration in scale, growth and profitability, on the back of industry tailwinds and strong execution. In addition, its retail expansion continued in the recently concluded quarter, with the launch of four new showrooms. Of these, three showrooms are in non-south markets and one is in the Middle East. Kalyan Jewellers has a store network of 158 stores.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-44891119\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company\u2019s management is looking forward to the festive season and said that its revenue momentum in the latest quarter (July-September) was encouraging. Its sales increased to \u20b9 2718.99 crores in the June quarter as compared to \u20b9 2398.79 crores in the March quarter, indicating a rise of 13.35 percent. Further, its profit surged to \u20b9 95.36 crores from \u20b9 70.48 crores, up 35.30 percent.&nbsp;<\/p><p>ICRA Ratings expects the gold jewellery demand in India to grow at a steady rate of 11 per cent during FY23. Therefore, this would gradually supplement the strong growth witnessed in FY22 \u2013 a 40 per cent surge over the pre-COVID levels seen in FY20.&nbsp;<\/p><p>Centrum Broking has a buy call on the shares of Kalyan Jewellers with a target price of \u20b9 121 apiece. This translates to an upside of 24% as compared to the current share price of \u20b9 97.60.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-977163095\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The festive season is nearing and the jewellery sector is shining bright as the sales have picked up after the pandemic. The shares of Kalyan Jewellers are dazzling. They have gained more than 18 per cent in the past two days and have reached an all-time high of \u20b9 101.40 apiece on the National Stock [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-63513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kalyan Jewellers trades above issue price; brokerage sees 24% upside.\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/kalyan-jewellers-trades-above-issue-price-brokerage-sees-24-upside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kalyan Jewellers trades above issue price; brokerage sees 24% upside.\u00a0\" \/>\n<meta property=\"og:description\" content=\"The festive season is nearing and the jewellery sector is shining bright as the sales have picked up after the pandemic. 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