ICICI Direct is bullish on Kalyan Jewellers India recommended buy rating on the stock with a target price of Rs 220 in its research report dated August 10, 2023.

Buy Kalyan Jewellers India; target of Rs 220: ICICI Direct

Shares of Kalyan Jewellers India Ltd were trading on a flat note today even as brokerage HSBC raised its target price for the jewellery stock post Q1 earnings. The brokerage assigned a new target price of Rs 220 against the earlier target of Rs 200. The firm reported a 33% rise in Q1 net profit on …

Kalyan Jewellers shares: HSBC raises target price; stock slips 2% on profit-booking

At upper end of issue price band of Rs 301-317 per share, it is available at a 15.5x P/E on FY23 basis against peers Titan at 83.5x and Kalyan Jewellers India 35x, with a market capitalisation of Rs 2,462 crore.

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Highdell Investment, owned by US-based private equity major Warburg Pincus, on Friday divested a 6.2 per cent stake in Kalyan Jewellers India Ltd for Rs 725 crore through an open market transaction.

Highdell Investment sells 6.2% stake in Kalyan Jewellers for Rs 725 cr

Kalyan Jewellers share price: The counter’s 14-day relative strength index (RSI) came at 77.69. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company’s stock has a price-to-earnings (P/E) ratio of 30.20. It has a price-to-book (P/B) value of 3.21.

Kalyan Jewellers India shares jump 13% today amid heavy volumes; here’s why

Stock to buy today: Kalyan Jewellers India (₹107.05)

Kalyan Jewellers India Ltd. on May 15 posted a 3.11% drop in its consolidated net profit to ₹697.99 crore during the fourth quarter of the 2022-23 fiscal, largely due to higher expenses

Kalyan Jewellers Q4 net profit dips 3.11% to ₹697.99 cr.

Kalyan Jewellers India Ltd on Monday posted a 3.11 per cent drop in its consolidated net profit at ₹697.99 crore during the fourth quarter of the 2022-23 fiscal, largely due to higher expenses.

Kalyan Jewellers Q4 net profit dips 3.11 per cent to ₹698 cr

The stocks of PVR Inox, Pfizer, Century Plyboards, Kalyan Jewellers India and Suryoday Small Finance Bank will be in focus as the companies are announcing the results for the last quarter today.

Opening bell: Markets trade lower amid mixed global cues; Sensex at 61,212.14, Nifty at 18,114

Highdell Investment, which is owned by private equity major Warburg Pincus, on Tuesday divested 2.26 per cent stake in Kalyan Jewellers India Ltd for little over Rs 256 crore through an open market transaction.

Highdell Investment sells 2.26% stake in Kalyan Jewellers for Rs 256 cr

Kalyan Jewellers India on Tuesday reported a 10.34 per cent growth in consolidated profit after tax (PAT) during the quarter ending December 31, 2022, at Rs 148.43 crore.

Kalyan Jewellers India Q3 consolidated PAT rises 10% to Rs 148.43 crore

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Kalyan Jewellers is engaged in the business of jewellery.