Kalyan Jewellers shares have been trading lower than their 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages. From January 2 to January 13, the shares fell from ₹787.75 to ₹572.65, a drop of 27.30%.
On Tuesday, 14th January, Kalyan Jewellers shares ended their seven-day losing streak. The stock closed at ₹601, upside 4.95% from the previous close of ₹572.65 on the BSE. The company’s market cap rose to ₹61,556 crore, with 5.59 lakh shares traded, totaling a turnover of ₹33.04 crore.
Kalyan Jewellers Yearly Performance
In the last year, Kalyan Jewellers shares have increased by 53.38% and by 385% in the last two years. The stock’s relative strength index (RSI) is 23, indicating it is oversold. It has a beta of 0.7, showing very low volatility.
The net profit of KALYAN JEWELLERS stood at ₹ 596 crore in FY24, which was up 38.1% compared to ₹ 432 crore reported in FY23.
- Market Cap: ₹ 61,563 Cr.
- Current Price: ₹596
- 52 Week High / Low: ₹ 795 / ₹ 322
- Stock P/E: 98.4
Analyst on Kalyan Jewellers
Citi Research has set a price target of ₹810 for Kalyan Jewellers and maintains a buy rating. The stock is performing well due to store expansions and a strong balance sheet.
Analyst AR Ramachandran suggests buying Kalyan shares if they close above ₹610, with a target of ₹706 in the short term.
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Growth Expectations on Kalyan Jewellers
Citi Research noted that Kalyan’s store expansion is ahead of expectations and will lead to growth and improved return on capital.
Kalyan plans to add 30 new stores and 15 Candere stores in India in Q4. Next financial year, 90 new stores are planned in non-south regions and international markets, and 80 new Candere stores in India.
Brokerage Targets
Motilal Oswal has a price target of ₹875. They reported strong sales growth of 39% YoY in Q3.
Centrum Broking has a price target of ₹700 with an Add rating, expecting 39% revenue growth YoY and strong festive and wedding demand in India.
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Expansion Plans of Kalyan Jewellers
Kalyan Jewellers added 24 stores in Q3 and plans to open more in India and internationally. In Q3, their India operations saw 41% revenue growth and 24% same-store sales growth.
The Middle East also saw 22% revenue growth. Kalyan opened its first showroom in the US recently.
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