Citi raises Kalyan Jewellers target to Rs 800 despite June-quarter margin pressure
Citi retained its Buy rating and lifted Kalyan Jewellers’ target price from Rs 750 to Rs 800. June-quarter revenue rose 45.7% year on year to Rs 10,588.9 crore, while EBITDA margin narrowed to 6% from 7% amid cost and business-mix pressure.
Citi retained its Buy call on Kalyan Jewellers and raised the target price to Rs 800. June-quarter revenue and reported profit rose strongly, but adjusted EBITDA and PAT missed estimates and EBITDA margin fell to 6% amid costs and business-mix pressure.
Also reported by
- Business Today · Latest — Same time