Jefferies Sees 76% Upside in Kalyan Jewellers Bull Case on Market-Share Gains and Store Expansion
Jefferies has reiterated a Buy rating on Kalyan Jewellers, assigning a base target of Rs 830 and a bull-case target of Rs 1,000, which implies as much as 76% upside from current levels. The brokerage said the company’s long-term growth case is supported by market-share gains, aggressive store additions, and a broader structural shift in India’s jewellery trade toward organised retail.
