Kalyan Jewellers Stock : Kalyan jewellers shares plunged nearly 8% on July 7 despiite reporting strong june -quarter business performance,investors were disappointed as the company's growth lagged behind rival titan,dragging the stock down 5.91% to 357 by 11:30 AM.
shares of kalyan jewellers fell 7.8% to 351.55% in early trade on July 7 despite reporting 38% YoY revenue growth across domestic and international businesses in the June quarter.
Kalyan jewellers postped strong June -quarter growth, with 28% same-stole sales growth ,35% international revenue growth ,and continued strong performance from its digital jelwellers platform,Candere.
Kalyan jewellers opened 12 new showrooms and 5 candere stores in the June quarter,taking its retail network to 524 stores .The company expects good demand during festive and wedding seasons but the stock has been under pressure after poorer -than -expected performance.The stock has fallen over 39% in a year .
Indian benchmark indices continued to rise for a sixth consecutive session on July 7.The sensex increased 313 points (0.40%) to 78605 around 11.45 AM, while the Nifty was up 84 points (0.34%) at 24514. Additionally ,the bank Nifty saw favorable trading.
