Kalyan Jewellers hits new high on expansion plans; stock up 14% in 3 days

Shares of Kalyan Jewellers surged 3 per cent to hit a new high since its market debut at Rs 122.95 in Tuesday’s intra-day trade. In the past three days, the stock of jewellery maker rallied 14 per cent after the company announced plans to expand its retail footprint by over 30 per cent through the calendar year 2023 (CY23).

The stock traded at its highest level since its debut on March 26, 2021. With this recent gain, the stock quoted 41 per cent higher against its issue price of Rs 87 per share. It has surged 123 per cent