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Domestic brokerage Motilal Oswal Financial Services has increased its stake in domestic jeweller Kalyan Jewellers and information technology (IT) services major Coforge. After the increase in stake, the brokerage now holds a 7.56 per cent shareholding in Kalyan Jewellers and 9.29 per cent in Coforge. 

According to stock exchange data, Motilal Oswal held a shareholding of 7.24 per cent in Kalyan Jewellers and 8.34 per cent in Coforge.

Kalyan Jewellers reported that its India operations saw a revenue increase of about 39 per cent in the March quarter year-on-year, largely fueled by strong wedding-related demand. It also noted a solid same-store sales growth (SSSG) of around 21 per cent during the quarter. 

Kalyan Jewellers opened 25 new showrooms across India during the March quarter, followed by an additional three showrooms in the first week of April 2025. However, the digital-first jewellery brand, Candere, saw a revenue drop of approximately 22 per cent compared to the previous year. Kalyan noted that 14 new Candere showrooms were opened during the quarter under review.

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