Kalyan Jewellers Share Price Jumps Over 50% In Five Sessions As Rally Continues

Kalyan Jewellers share price extended its winning streak for the fifth consecutive trading session on Tuesday, climbing nearly 5% in early trade as investors continued accumulating the stock following a positive brokerage outlook and encouraging business updates. The sharp rally has lifted the company’s market capitalisation by around ₹18,500 crore over the past five sessions.

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Stock Delivers Sharp Rebound

Kalyan Jewellers share price rose as much as 4.8% to ₹535 during morning trade, taking its five-session gain to 50.8%. The rally pushed the company’s market value to nearly ₹55,000 crore.

The recent surge has also reversed the stock’s performance for the year. After being down more than 26% just a week earlier, Kalyan Jewellers share price is now up about 10.3% in 2026, outperforming the Nifty 50 index, which has declined 7.5% during the same period.

Brokerage View Boosts Sentiment

Investor sentiment improved after Citigroup reaffirmed its ‘Buy’ rating on the stock last week and retained its target price of ₹750 per share. Even after the recent rally, the brokerage’s target indicates additional upside from current levels.

Citi noted that the company’s consolidated revenue growth of 38% year-on-year during the June quarter fell short of its estimates. However, it maintained that the quarterly performance does not change its positive long-term investment outlook.

According to the brokerage, Kalyan Jewellers’ franchise-led expansion strategy is expected to support profitable growth while improving return on capital employed (RoCE). Citi also highlighted the continued expansion of Candere, the company’s digital-first jewellery platform, as an important long-term growth driver.

Business Update Shows Expansion Across Markets

The company reported 38% year-on-year growth in India revenue for the June quarter, driven by same-store sales growth of 28%. Its international operations registered approximately 35% growth, while the West Asia business expanded around 30%. Overseas markets accounted for nearly 14% of consolidated revenue during the quarter.

Candere recorded the strongest performance among the company’s businesses, with revenue increasing 112% year-on-year. During the quarter, the company opened 12 Kalyan Jewellers showrooms and five Candere outlets, taking its total retail network to 524 stores as of June 30.

Management also indicated that the second quarter has started on a positive note as demand improves ahead of the festive and wedding season.

Sentiment Turns Around

The latest rally marks a significant shift in investor sentiment. Kalyan Jewellers share price had declined nearly 7% immediately after the June-quarter business update, as some investors reacted to revenue growth that was below certain market expectations and lower than larger peer Titan’s reported growth.

However, sustained buying interest over the past week, supported by the brokerage’s positive outlook and confidence in the company’s long-term expansion plans, has helped Kalyan Jewellers share price recover sharply, making it one of the strongest performers in the BSE Midcap index over the past five trading sessions.