Kalyan Jewellers Share Price Climbs Nearly 10%, Extends Four-Day Rally

Kalyan Jewellers India share price surged nearly 10% in intraday trade on the BSE on Monday, July 13, continuing its recent upward momentum after the company reported robust business performance for the April-June quarter. The stock rose to an intraday high of ₹531.50, marking its fourth consecutive session of gains.

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Strong Performance After Q1 Business Update

The latest rally in the Kalyan Jewellers India share price follows the company’s quarterly business update released on July 7. In its exchange filing, the jewellery retailer said consolidated revenue for the April-June quarter grew approximately 38% year-on-year. The company also reported around 35% year-on-year revenue growth from its international operations during the same period.

Although Kalyan Jewellers India share price declined about 7% on the day the business update was announced, buying interest returned from the following trading session, helping the stock recover sharply.

Stock Rebounds From Recent Low

The recent gains have significantly improved the stock’s performance over a short period. In the last four trading sessions, Kalyan Jewellers India share price has advanced about 47%, while it has gained more than 36% so far in July after rising around 9% in June.

The stock had touched its 52-week low of ₹327.15 on June 11. Following the latest rally, it is trading nearly 62% above that level. Even after the recovery, Kalyan Jewellers India share price remains more than 14% below its 52-week high of ₹617.30, which it had reached on July 24 last year.

Brokerage Maintains Positive Rating

Global financial services firm Citi has retained its ‘Buy’ rating on the stock and maintained a target price of ₹750 per share. According to the brokerage, the company’s franchise-led expansion strategy is expected to continue supporting profitable growth while improving return on capital employed (RoCE).

The brokerage has also maintained its constructive long-term outlook on the company following its latest business update.

Recent Momentum Draws Investor Attention

The sharp recovery has placed Kalyan Jewellers India share price back in focus after a prolonged period of relatively weak performance. The company’s latest quarterly update, coupled with sustained buying over recent sessions, has helped the stock recover a substantial portion of the losses recorded earlier this year.

Now, market participants will be watching out for the performance and expansion plans of the company by tracking their quarterly financials and management commentary. Going forward, future earnings, openings of new stores, and the company’s growth strategy implementation is likely to continue being an important factor that will impact the stock of Kalyan Jewellers India.