Why Kalyan Jewellers shares surged 10%, hit 52-week high after Diwali, Dhanteras; up 26% in a week | Buy, sell or hold?
Kalyan Jewellers shares surged 10% on Wednesday, 11 November, hitting a fresh 52-week high after the jewellery retailer reported a strong set of Q2 FY27 results a day earlier.
Kalyan Jewellers India reported a 64% year-on-year jump in consolidated net profit to ₹427 crore for the September quarter, compared with ₹260.51 crore in the corresponding period last year. Revenue from operations rose 32% to ₹10,323 crore from ₹7,856 crore in Q2 FY26.
For the first half of FY27, the company's net profit increased 48% to ₹776 crore from ₹525 crore a year ago. Revenue grew 38% to ₹20,912 crore, compared with ₹15,125 crore in the year-ago period.
Commenting on the performance, Executive Director Ramesh Kalyanaraman said the ongoing festive quarter had started on a strong note, with encouraging growth during Navratri and Dhanteras. He added that the company was optimistic about the upcoming wedding season and expected to end the quarter on a strong note.
Motilal Oswal Financial Services has maintained a Buy rating on Kalyan Jewellers, citing strong earnings growth and 20% same-store sales growth (SSSG) in India.
According to the brokerage, consolidated revenue rose 31% year-on-year to ₹10,320 crore, ahead of its estimate of ₹9,870 crore. Adjusting for a one-time gain of ₹52 crore from the increase in customs duty and an inventory loss of ₹8.3 crore due to open positions in silver and platinum, gross margin contracted 80 basis points year-on-year to 11.9%. Adjusted EBITDA increased 26% to ₹600 crore, while the adjusted EBITDA margin declined 20 basis points to 5.8%. Profit before tax (PBT) rose 35% to ₹440 crore, and adjusted profit after tax (APAT) grew 41% to ₹350 crore.
UBS has maintained its Buy rating on Kalyan Jewellers with a price target of ₹900. While the brokerage described the Q2 results as broadly in line with expectations, it viewed the overall performance positively.
Kalyan Jewellers share price today opened at ₹630 apiece on the BSE, the stock touched an intraday high of ₹672.10 apiece, and an intraday low of ₹620.60 per share.
Kalyan Jewellers shares have delivered strong returns across timeframes, gaining 26.20% in the past week and 31.15% over two weeks. The stock has advanced 20.84% in a month and 11% over the past three months. Over a six-month period, it has surged 73.52%, while its year-to-date gains stand at 38.37%, reflecting strong buying interest in the counter.
Gaurav Arora, Head of Research, SAHI, said Kalyan Jewellers has given a continuation breakout on the upside with strong momentum. The stock has broken out of inverted head and shoulders pattern above the ₹640 level.
“Holding above ₹650 would strengthen the trend further. From here, the stock is likely to head towards its previous highs. ₹700 is the first level to watch on the upside, followed by ₹750. As long as the stock holds above the breakout zone, the structure remains positive,” added Arora.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Kalyan Jewellers has broken out of a downward-sloping trendline, followed by a strong upward move accompanied by healthy volumes, indicating sustained buying interest.
He noted that the RSI has climbed from oversold territory to above 60, signalling improving bullish momentum. The ADX indicator also supports the positive outlook, with DI+ comfortably above DI-, indicating buyers' dominance. Further, the MACD has moved above the zero line, with rising green histogram bars pointing to strengthening momentum. Going ahead, the ₹625–630 zone is expected to act as immediate support, and the stock could extend its gains as long as it sustains above this range.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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HomeMarketsStock MarketsWhy Kalyan Jewellers shares surged 10%, hit 52-week high after Diwali, Dhanteras; up 26% in a week | Buy, sell or hold?
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