Domestic brokerage firm Motilal Oswal Financial Services has recently elevated its investment in the renowned jeweller Kalyan Jewellers, as well as in the prominent IT services company Coforge Ltd. This strategic move comes after the firm acquired additional shares that come with voting rights. According to the latest data from the Bombay Stock Exchange (BSE), Motilal Oswal now holds 7.56% of Kalyan Jewellers and 9.29% of Coforge, showcasing its growing influence in these key sectors.

Motilal Oswal’s Increased Stake in Kalyan Jewellers and Coforge

As per BSE records, Motilal Oswal previously owned 7,47,65,341 shares in Kalyan Jewellers, which accounted for a 7.24% stake. Following the recent acquisition of 32,52,097 additional shares, the brokerage has increased its total holdings to 7,80,17,438 shares, reflecting a 7.56% ownership. The total voting capital remained consistent at 1,03,14,35,375 shares, each with a face value of ₹10.

In the case of Coforge, the brokerage held 55,80,134 shares, representing an 8.34% stake before acquiring 6,34,752 more shares. This brings its total shares to 62,14,886, maintaining a 7.56% stake in the IT services giant, with total voting capital at 3,45,89,341 shares, also valued at ₹10 each.

Stock Performance Overview

• Kalyan Jewellers: The stock experienced a downturn of 1.63%, closing at ₹508.30. However, it has seen a 13% increase over the past month.

• Coforge: Shares rose significantly by 12.3%, closing at ₹7,387.20, after reaching an intraday high of ₹7,535. The stock has faced a 5.13% decline in the past month yet has surged by 48% over the last year.

Financial Highlights and Future Outlook

Kalyan Jewellers recently announced impressive Q4 results, with a 39% annual revenue increase attributed to robust wedding season demand. The same-store sales growth (SSSG) was reported at approximately 21%. Despite a 34% decline YTD, the stock has managed a 25% increase over the past year.

Additionally, Kalyan Jewellers has been expanding its footprint, opening 25 new showrooms in India during the March quarter, followed by three more in early April. Conversely, Candere, a digital jewellery brand, reported a revenue drop of 22% year-over-year, despite opening 14 new showrooms in the same period.

Conclusion

Motilal Oswal’s strategic acquisitions signify a strong belief in the growth potential of both Kalyan Jewellers and Coforge. As these companies navigate through the challenges and opportunities in their respective sectors, investors will be keenly watching their performance in the upcoming quarters. For more insights into market trends and investment opportunities, explore our resources or consult with financial experts.