Kalyan Jewellers Rebounds After Pullback on Strong Q1 Update; Citi Eyes Rs 750
Shares rose 3.1% to Rs 564 following a robust June-quarter update: 38% YoY consolidated revenue growth and ~28% SSSG. Citi reiterated buy with a Rs 750 target. Candere jumped 112%, international revenue grew 35% YoY, and the company added 12 new showrooms plus 5 Candere stores, taking the count to 524 ahead of the festive season.
Kalyan Jewellers shares climbed after a strong June-quarter update showing 38% YoY revenue growth and 28% SSSG. Citi reiterated buy with Rs 750 target. Store expansion, gold-exchange programme, and Candere's 112% growth drove momentum ahead of festive season.
Why this matters
The rebound follows a six-day rally that snapped with a 2.65% slip to Rs 533.90 and analyst warnings of profit-booking near Rs 546, plus a Refinitiv score trim.
retail-company signals accelerating, up 851300% QoQ.