Kalyan Jewellers surges another 20% after Q1 update shows 38% India revenue growth
Kalyan Jewellers extended gains on a strong Q1 business update: 38% YoY India revenue growth, 28% same-store sales growth, and 12 net new stores taking India Kalyan count to 354. Citi reiterated 'Buy' at ₹750, but flagged India lagging Titan for the first time in 13 quarters. Candere revenue jumped 112%; international revenue up 35%.
Kalyan Jewellers shares surged again after Q1 business update showing 38% India revenue growth, 28% SSSG, and 12 new stores. Citi reiterated 'Buy' at ₹750, though it flagged India underperforming Titan for first time in 13 quarters.