Jefferies reiterates Buy on Kalyan Jewellers, sees 76% upside
In short
Jefferies kept a Buy rating on Kalyan Jewellers and gave it a base target of Rs 830 and a bull-case target of Rs 1,000. That bull case implies 76% upside.
This matters because the brokerage sees growth from market-share gains, new stores and more organized retail demand. The report does not say how the stock moved after the note.
What the reporting says
Jefferies reiterated a Buy rating on Kalyan Jewellers and set a base target price of Rs 830 with a bull-case target of Rs 1,000. The brokerage said that implies 76% upside and pointed to market-share gains, store additions and a shift toward organised retail as long-term growth drivers. The report does not say whether the stock reacted immediately to the note.
Why it matters
Jefferies remains positive on Kalyan Jewellers, citing market-share gains, store additions and a broader shift toward organised retail as reasons for long-term upside. The brokerage’s published targets suggest meaningful room above the current price, though the report does not provide the existing share price or any near-term catalyst. The note is supportive for sentiment, but the immediate stock reaction is not stated.