Kalyan Jewellers rallies 54.5% in 6 days, market cap ₹55,500cr
Business
After a wild six-day run that sent Kalyan Jewellers's stock soaring 54.5%, shares cooled off by 2% on Thursday to ₹537.
Even with this dip, the company's market cap rose by over ₹20,000 crore during the rally, now around ₹55,500 crore, and it's outperformed the Nifty 50 index by a wide margin in 2026.
Citigroup keeps buy rating, ₹750 target
Citigroup kept its "Buy" rating with a target of ₹750, pointing to Kalyan's strong growth story.
Last quarter, revenue in India jumped 38% and same-store sales climbed 28%.
Their digital brand Candere more than doubled its revenue (up 112%), international sales grew 30% in West Asia, and they added 17 new stores, now totaling an impressive 524 outlets.