Latin Manharlal tags Nykaa a long-term Buy, flags Sell on Kalyan Jewellers in favour of Titan
Analyst Nirav Asher names Nykaa (CMP Rs 273) a preferred long-term pick on its beauty franchise, while downgrading Kalyan Jewellers (CMP Rs 361) to Sell — citing weaker positioning versus Titan's recycle-led market leadership. Tata Technologies (CMP Rs 622.85) rated Hold.
What happened
Latin Manharlal's Nirav Asher rates Nykaa a Buy as a preferred long-term pick, recommends Sell on Kalyan Jewellers suggesting a switch to Titan citing market
Key facts
- Nykaa CMP Rs 273
- Kalyan Jewellers CMP Rs 361
- Tata Technologies CMP Rs 622.85
Why this matters
Kalyan's downgrade versus Titan underscores that scale plus exchange-led customer lock-in is the defensible model in jewellery, raising the bar for any M&A or partnership thesis in the category.