Kalyan Jewellers shares surge 47% in 4 days
Analysts predict further upside potential
1Kalyan Jewellers shares soar
Kalyan Jewellers shares surged sharply on Monday, extending their four-day rally to 47%. The company's Q1FY27 business update indicated a 38% year-on-year growth in consolidated revenue. This performance was driven by robust same-store sales in key Indian markets.
2Technical indicators remain bullish
Sudeep Shah from SBI Securities noted that the shares registered a fresh consolidation breakout on the weekly chart. The RSI climbed above 60, signaling strengthening bullish momentum. The stock also closed above the upper Bollinger Band, indicating a strong trending move.
3Analysts see further upside
Citi has a target price of Rs 750 for Kalyan Jewellers, implying 58% upside potential. ICICI Securities maintains a Buy rating with a target price of Rs 670, suggesting 41% upside. Both brokerages are optimistic about the company's franchise-led expansion strategy and asset-light model.
4Strong performance despite challenges
Kalyan Jewellers delivered strong performance despite multiple headwinds. The Adhik Maas period and rising gold prices did not dampen resilient jewellery demand in India. This bodes well for the sector's future.
5Factors investors will monitor
Investors will closely watch management commentary, festive season demand, and the pace of store expansion. These factors will shape the sector's performance in the coming quarters. However, a structural decline in natural diamond prices remains a key risk.
6What should investors do?
Analysts suggest that as long as the stock sustains above the Rs 425–430 zone, the bullish bias is likely to remain intact. Traders may consider buying on dips while maintaining a stop-loss below this support level. Long-term investors might hold rather than book profits.
Original article: Economic Times — Kalyan Jewellers hisseleri 4 günde %47 yükseldi