Kalyan Jewellers shares jump 5% after Jefferies starts coverage with 'Buy'. More upside after 63% rally in 1 month?
Shares of Kalyan Jewellers India rallied as much as 5% to their day’s high of Rs 629 on the BSE on Friday after Jefferies initiated coverage on the stock with a Buy call and a target price of Rs 830, forecasting an upside of 39% from current levels. With today’s surge, the stock is up over 60% in a month.The foreign brokerage said the company has built a differentiated growth engine by combining neighbourhood relevance with the scale of an organised retailer, a strategy that should continue to drive market share gains in the coming years.It also highlighted Kalyan's franchisee-led expansion mo