Kalyan Jewellers Rallies 36% in 3 Days on Strong Q1 Update, Citi's Rs 750 Target
Kalyan Jewellers shares surged 8.67% to Rs 483.10, capping a 36% three-day rally after a Q1FY27 update showing 38% revenue growth and ~28% SSSG. Candere revenue jumped 112%. The company operates 524 showrooms and opened 17 during the quarter. Citi set a bullish Rs 750 target.
What happened
Kalyan Jewellers shares surged 36% in three days after a strong Q1FY27 update showing 38% revenue growth, ~28% SSSG, and Citi's bullish Rs 750 target. Candere
Key facts
- shares +8.67% to Rs 483.10
- 3-day rally 36.12%
- Citi target Rs 750
- revenue +38% YoY
- SSSG ~28%
- recycled gold >46% (>55% in June)
- Candere revenue +112%
- 524 showrooms
- 354 Kalyan India stores
- 129 Candere outlets
Why this matters
Candere's 112% revenue surge validates the digital/omnichannel jewellery bet and positions it as a potential standalone growth engine worth watching for capital allocation or partnership plays.
What to watch
- Full Q1FY27 detailed results with margin and same-store volume disclosure
- Gold price trajectory and its distortion of reported SSSG
- Franchise vs company-owned store mix and its margin impact
- Citi target revisions or downgrades post-print; other analyst initiations
- Promoter/PE (Warburg Pincus) stake movement or block deals after the rally
- Expect other brokers (Motilal, Nuvama, Jefferies) to revise targets upward or issue cautionary notes on valuation
- Peer jewellery names (Titan, Senco, Thangamayil, PN Gadgil) likely see sympathy moves and comparison-driven flows
- Management to schedule investor calls clarifying SSSG volume vs gold-price component and Candere online scaling
- Options open interest and delivery volumes spike; likely F&O position build-up if not already