Kalyan Jewellers' consolidated revenue grew 37% YoY to INR60.7b, driven by store additions and strong festive demand, with studded revenue outpacing gold revenue growth, leading to an increase in studded share to 30%. Motilal Oswal models 29%/23%/33% revenue/EBITDA/PAT CAGR during FY24-27E, reiterating a BUY rating with a TP of INR800.
Open Flip
Indian shares inched lower on Thursday, logging their sixth weekly loss in seven, as worries about a slowdown in consumption added to concerns over earnings moderation and foreign outflows. The NSE Nifty 50 fell 0.11% to 23,532.7, closing below its 200-day moving average for the first time since April 2023. The BSE Sensex shed 0.14% to end at 77,580.31.
Open Flip
Sun TV Network reported a 2QFY25 with revenue/EBITDA declining 12%/26% YoY, offset by a 2% YoY recovery in ad revenue. The impending Star-Viacom merger poses a potential threat, increasing competition and potentially impacting IPL media rights. The company trades at 15x one-year forward P/E, with a target price of INR670 and a Neutral rating.
Open Flip
