Shares of Kalyan Jewellers continued their strong upward momentum on Tuesday, extending gains for the second consecutive trading session. Around 10 AM, the stock surged 11.21% to ₹416.10, recovering sharply after witnessing a nearly 9% decline earlier this week.
The rally comes after the jewellery retailer reported robust first-quarter business performance and received a bullish outlook from global brokerage Citigroup, which has maintained its 'Buy' recommendation and assigned a target price of ₹750 per share.
Kalyan Jewellers Reports Strong Q1 Revenue Growth
Kalyan Jewellers announced an estimated 38% year-on-year growth in consolidated revenue for the first quarter of FY27.
The company credited the strong performance to:
Healthy demand across its core Indian markets
Robust same-store sales growth (SSSG)
Strong customer traction despite the impact of the 28-day Adhik Maas period, which traditionally affects jewellery demand
The positive business update boosted investor confidence and supported the stock's sharp recovery.
Citigroup Remains Bullish, Sets ₹750 Target
Global brokerage Citigroup has reaffirmed its positive stance on Kalyan Jewellers by maintaining a 'Buy' rating on the stock.
Key Highlights from Citi's Report
Target Price: ₹750 per share
Rating: Buy
Consolidated revenue growth: 38% YoY
India revenue growth: 38% YoY
Same-store sales growth (SSSG): 28%
Although Citi noted that quarterly revenue growth came in slightly below its expectations, the brokerage remains confident about the company's long-term growth trajectory.
Franchise Expansion Seen as Major Growth Driver
According to Citigroup, Kalyan Jewellers' aggressive franchise-led expansion strategy is expected to strengthen its business over the coming years.
The brokerage believes this model will help the company:
Expand its retail footprint faster
Improve profitability
Enhance Return on Capital Employed (RoCE)
Deliver stronger earnings growth over the long term
Why Kalyan Jewellers Shares Are Rising
The stock is witnessing strong buying interest due to a combination of factors:
Strong Q1 revenue growth
Healthy same-store sales performance
Positive brokerage commentary
Optimism surrounding future expansion plans
Improved investor sentiment in the jewellery retail sector
Market Outlook
With robust revenue growth, expanding retail operations, and continued support from leading brokerages, Kalyan Jewellers remains one of the closely watched jewellery stocks in the market.
Investors will now monitor the company's upcoming quarterly financial results, festive season demand, and execution of its expansion strategy to assess whether the current momentum can be sustained in the coming quarters.
Olympic silver medallist Mirabai Chanu delivered a historic performance by winning India's first
Samsung Galaxy S26 Ultra AMOLED Display Issue? Company Breaks Silence on Users’ Screen Complaints
Samsung Galaxy S26 Ultra users have reported a new AMOLED display issue, with several owners clai
Groww Overtakes Angel One in Commodity Derivatives; Analysts See Stock Rally Towards ₹250
Online brokerage platform Groww has strengthened its position in India's financial services indus
India is set to take a major step toward modernizing its currency system as the Reserve Bank of I
OnePlus is gearing up to expand its affordable smartphone portfolio with the launch of the OnePlu
Will Cheap Smartphones Vanish From the Market? New Industry Report Raises Alarm
Planning to buy a budget smartphone? You may have to spend more in the coming months. According t
Samsung is all set to host its biggest product launch event of the year, Galaxy Unpacked 2026, to
Gold and silver prices moved higher on July 21, extending the volatility seen in the precious met
Onion-Tomato Price Rise Hits Kitchens: Veg and Non-Veg Thali Costs Increase, Pulses May Get Costlier
Rising prices of onions, tomatoes, edible oil, LPG cylinders, and chicken have made home-cooked m
E20 Petrol Explained: Government Clears the Air on Ethanol Blending, Answers All Major Questions
The Central government has dismissed several viral claims surrounding E20 ethanol-blended petrol,
