On the NSE, 17.73 crore shares of the company changed hands at the counter as against an average trading volume of 28.60 lakh shares in the past one quarter.

The scrip has strongly outperformed the market over the past one year, surging 83.15% as against 0.11% fall in the Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 40.119. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100- day simple moving average (SMA) placed at 115.21, 114.20 respectively. These levels will act as crucial support zones in near term.

As per media reports, Warburg Pincus will reportedly offload a 2.5% stake in the company through a block deal. The shares would be offloaded at Rs 110 apiece.

Headquartered in Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East.

Kalyan Jewellers India's consolidated net profit rose 10.34% to Rs 148.44 crore on 13.06% increase in revenue from operations to Rs 3,884.09 crore in Q3 FY23 over Q3 FY22.