Kalyan Jewellers Stock Surges Past ₹475 as Brokerage Boost Fuels Massive Market Cap Rally
Shares of Kalyan Jewellers India continued a powerful three-session rally, climbing over 7 percent on Friday. The stock emerged as a top gainer on the BSE Midcap index. Investors have continued to pour confidence into the company's long-term growth trajectory following strong brokerage endorsements.Stock Performance and Market Capitalisation Boost
Kalyan Jewellers witnessed a significant jump, rising up to 7.2 percent during morning trading. The stock reached ₹475 per share on Friday. This sharp upward move has propelled its gains to an impressive 33.9 percent over the preceding three sessions.The rally has significantly bolstered the company's valuation. It has added nearly ₹11,500 crore to Kalyan Jewellers’ market capitalisation. The stock currently holds a market capitalization of around ₹48,850 crore during the session.
Mitigating Losses and Financial Positioning
This recent surge represents a major rebound for the company. Kalyan Jewellers has managed to erase most of its losses incurred earlier in 2026. Currently, the stock is down just 2.1 percent in 2026. This performance stands in stark contrast to the Nifty 50, which has seen a decline of 7.5 percent during the same period.Brokerage Maintains Bullish Stance on Jewellery Retailer
The recent accelerating rally was fueled by a reaffirmation from Citigroup. The brokerage reiterated its 'Buy' rating for the jewellery retailer. Citi also maintained a target price of ₹750 per share, suggesting substantial upside potential from current trading levels.Citi acknowledged that Kalyan Jewellers' June-quarter consolidated revenue showed a 38 percent year-on-year growth. While this figure was noted as below their internal estimates, Citigroup emphasized that the miss did not alter its fundamentally constructive long-term view of the company.
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