Kalyan Jewellers shining bright
Kalyan Jewellers is one big newsmaker today, figuring among the top five gainers on the BSE since the opening bell. Opening 4.5% higher at Rs.572, the stock hit an intraday high at Rs.589, up 7.5%. Its 52-week high stands at Rs.633.
The stock price rose amid early reports of block deals –wherein 2.42 crore shares or 2.36% stake changed hands at a floor price of Rs.535/share.
The buyer is the promoter himself, Trikkur Sitarama Iyer Kalyanaraman while the seller is Highdell Investment, a subsidiary of Warburg Pincus. Highdell as at 30th June’24 held 9.17% stake.
This share purchase is at 2.45% discount to yesterday’s closing price of Rs.548.15.
This apart, the exchange data shows that a total of 5 block deals, including the promoter-Highdell one took place, aggregating Rs.3585 crore. Totally, 6.6 crore shares or 6.4% stake changed hands today at a average price of Rs.539/share. The identity of others in these block deals is not yet known.