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Kalyan Jewellers India gains on extending gold ownership certificate initiative

Kalyan Jewellers India is currently trading at Rs. 58.40, up by 0.30 points or 0.52% from its previous closing of Rs. 58.10 on the BSE.

The scrip opened at Rs. 58.50 and has touched a high and low of Rs. 58.80 and Rs. 58.20 respectively. So far 4604 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 81.00 on 26-Mar-2021 and a 52 week low of Rs. 58.00 on 05-May-2021.

Last one week high and low of the scrip stood at Rs. 62.80 and Rs. 58.00 respectively. The current market cap of the company is Rs. 5984.61 crore.

The promoters holding in the company stood at 60.53% while Institutions and Non-Institutions held 6.47% and 33.00% respectively.

Kalyan Jewellers has extended the gold ownership certificate initiative. This was launched last year, during the lockdown, and with the lockdown imposed again, the brand has reinitiated the facility, based on customer request.

Gold Ownership Certificate will indicate that the person now owns gold of a certain grammage/value. Once the lockdown is lifted, customers can redeem their certificates against physical gold, in the form of coins or jewellery. As the Gold Rate Protection offer is also included in the certificate, customers will get the additional benefit of protection against price fluctuations. If on the day of redemption, the price of gold is lower than the rate at which it was purchased, then the new lower rate would apply.

As a part of this programme, one can purchase gold from 2 grams upwards, and the Gold Ownership Certificate will be delievered via email/WhatsApp or other customer recommended platforms. It can be later redeemed at any of the Kalyan Jewellers showrooms in India, on or before August 31, 2021.

Kalyan Jewellers India designs and manufactures gold, diamonds, stones, and other precious metal jewelry products. The company serves customers worldwide.

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