New Delhi. Kalyan Jewellers is currently witnessing a phenomenal rally on the stock market, recording strong gains for the fourth consecutive trading session. The share price has soared by 40 percent in just four days. It is currently trading at 508 rupees, reflecting an uptick of about seven percent. It is noteworthy that the stock had jumped eight percent in the previous trading session as well. Citigroup and Motilal Oswal, prominent brokerage firms, remain bullish on Kalyan Jewellers, a stock that has delivered returns of nearly 200 percent over the past three years, and have advised investors to buy into the company.
Financial Performance and Expansion
The consolidated revenue of Kalyan Jewellers for the first quarter of the 2026-27 fiscal year grew by 38 percent on an annual basis. Same-store sales growth in India stood at 28 percent. The company also demonstrated a stellar performance during the 2025-26 fiscal year. During that period, its net profit climbed by 86.6 percent annually to 1,285 crore rupees, with net revenue reaching 31,262 crore rupees. Additionally, the company has announced a dividend payout of 2.50 rupees per share to its investors.
Return Analysis
Analyzing the stock's recent trajectory, the price has surged by 48 percent over the past month. The three-month return stands at 16 percent, and the stock is up by six percent in the 2026 calendar year so far. However, looking at the one-year window, the jewelry stock has caused a loss of approximately 12 percent for investors. In the long term, the picture changes significantly; over the last three years, Kalyan Jewellers has provided multibagger returns, with its price increasing by 196 percent during this timeframe.
Brokerage Targets and Market Outlook
Citigroup has maintained a 'Buy' rating on the Kalyan Jewellers stock, assigning a target price of 750 rupees. Similarly, Motilal Oswal has upheld its 'Buy' rating with a target price of 525 rupees. Brokerages highlight that the revenue for Candere by Kalyan Jewellers grew by 112 percent year-on-year in the first quarter of the 2026-27 fiscal year. During this period, the company opened five new showrooms. This growth has been driven by strong operational momentum across all key markets and healthy same-store sales growth.
According to Nischal Jain, a Quant Researcher at PhonePe's Share.Market, the stock has gained significant momentum from its 52-week low of 327 rupees. The 373-rupee level has emerged as a strong support for the share, while immediate resistance is visible near the 530-rupee mark. Nischal Jain suggests that investors who already hold the stock can continue to do so, while new investors might look for buying opportunities during any dip or when the stock price stabilizes.
