Kalyan Jewellers Jumps 13% as Citi Doubles Down, Sees Stock at Rs 750
Kalyan Jewellers extended its rally after Citi issued a double upgrade with a Rs 750 target, implying 97% upside. The move follows a strong Q1 business update: revenue up 38% YoY, India SSSG at 28%, and Candere revenue surging 112%. The retailer added 12 Kalyan and 5 Candere showrooms in the quarter.
Kalyan Jewellers shares surged 13% after Citi double-upgraded the stock to a Rs 750 target on strong Q1 business update: 38% revenue growth, 28% India SSSG, 112% Candere growth, and 17 new showrooms.
Why this matters
The Citi upgrade extends a multi-session rally, following a 19% two-day surge and back-to-back 10% upper circuits driven by Kalyan's strong Q1 update showing ~38% revenue growth.
Retail-company signals are accelerating, up 676000% QoQ.