Kalyan Jewellers Q1 revenue up 38% stock jumps 12%
Kalyan Jewellers's stock shot up 12% on Thursday after a strong Q1 update. The company posted a solid 38% jump in revenue compared to last year, fueled by impressive sales both in India and internationally.
Citi is feeling good about its future too, keeping its Buy rating and setting a target price of ₹750.
Kalyan sales up 28% Candere doubles
Indian stores saw same-store sales climb 28%, while international revenue rose 35%.
Even with some bumps in the Middle East due to global tensions, those outlets still grew by 30%.
Old gold exchanges made up more than half of June's sales. Meanwhile, Kalyan's e-commerce brand Candere doubled its revenue over last year.
Analysts are optimistic about long-term growth but do mention possible risks like competition from Titan and market uncertainties.