Kalyan Jewellers’ share price rises by more than 4% as Jefferies initiates coverage on the company with a “Buy” rating. Several reports note the stock’s move occurs after the brokerage announcement and coincides with an earlier period of strong performance.
Jefferies sets a target price of Rs 830, according to the outlets. While the exact upside figure differs slightly across coverage, all accounts point to a substantial implied gain versus prevailing levels, ranging from roughly one-third to about 40% upside. The brokerage attributes its view to Kalyan Jewellers being in the early stages of benefiting from India’s broader trend toward formalisation in the jewellery sector, which it expects to support growth for organised players.
The differing angles are mainly in how outlets frame the implied upside—some cite around 34% while others reference about 39%—and in the emphasis on the stock’s recent rally. The underlying information reported remains consistent across sources: the “Buy” initiation, the Rs 830 target, and the formalisation thesis.
