Jefferies Projects 76% Upside For Kalyan Jewellers Shares
· Business · Economic Times, LiveMint
Jefferies has maintained a Buy rating on Kalyan Jewellers, forecasting a potential 76% upside in its bull-case scenario with a target price of Rs 1,000. The brokerage cites market-share gains, store expansion, and the ongoing structural shift toward organised retail as key growth drivers. Analysts noted that approximately 60% of India's $100 billion jewellery market remains unorganised, providing significant room for expansion. Jefferies expects the company's revenue to grow at a 23% annual rate between FY26 and FY29, supported by mandatory hallmarking and rising brand preference.
Why it matters
The brokerage's optimistic outlook highlights the growth potential for organised jewellery retailers as regulatory formalisation continues to reshape the Indian market.
Read the original report — Economic Times
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