Kalyan Jewellers Stake Sale Boosts Promoter's Holdings

Kalyan Jewellers executed a major block deal on August 22, with Highdell Investment selling a 2.36% stake to promoter Trikkur Sitarama Iyer Kalyanaraman for ₹1,300 crore. The transaction involved the sale of 2.42 crore equity shares at ₹535 each, increasing the promoter's stake from 60.59% to 62.95%. This deal is part of a broader trend, as foreign institutional investors have significantly reduced their holdings in Kalyan Jewellers, while domestic institutional investors have increased their stakes. The company reported strong financial results, with a 24% increase in net profit and 26.5% growth in revenue for the June quarter. Overall, Kalyan Jewellers shares have surged nearly 140% in the past three months, reflecting positive market sentiment.