Kalyan Jewellers shares fall for fifth session, here are fresh price targets 

Shares of Kalyan Jewellers Ltd extended fall for the fifth straight session on Thursday, reflecting weak sentiment on the counter. The jewellery stock slipped 15% in the last five sessions. In the current session, Kalyan Jewellers shares slipped 5.60% to Rs 665.50 against the previous close of Rs 706.55 on BSE. Market cap of the firm fell to Rs 68,796 crore. Total 5.71 lakh shares of the firm changed hands amounting to a turnover of Rs 38.97 crore.  

Kalyan Jewellers shares have gained 74.31 per cent in one year and risen 431 per cent in two years. 

In terms of technicals, the relative strength index (RSI) of Kalyan Jewellers stock stands at 41.4, signaling it's neither trading in the overbought nor in the oversold zone. The stock has a beta of 0.6, indicating very low volatility in a year. 

Motilal Oswal has a price target of Rs 875 on the Kalyan Jewellers stock. 

The brokerage's report said, "Kalyan reported consolidated sales growth of ~39% YoY (est. 38%; 37% in
2QFY25 and 35% in 3QFY24), maintaining strong momentum across its markets in India and the Middle East. 

In FY26, KALYAN plans to launch 170 showrooms for Kalyan and Candere formats - 75 Kalyan showrooms (all FOCO) in non-South India regions, 15 Kalyan showrooms (all FOCO) across South India and international markets, and 80 Candere showrooms in India. 

Centrum Broking has a price target of Rs 700 with an Add rating. 

Consolidated revenue of Kalyan Jewellers is expected to rise 39.0% YoY, while Indian business expected to report 41% YoY growth on back of 24% SSSG led by very strong festive and wedding demand across both gold and studded categories, said Centrum Broking. 

"Kalyan is set to accelerate pace of store expansion plan across India as well as international market with new FOCO model, Kalyan added 24 stores in Q3," added the brokerage. 

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities said those with a long-term view can continue to hold the stock, given the prospects of the company.

Bathini said immediate support on the counter can be seen at Rs 654. Resistance is at Rs 700 level.

Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking said, "The stock has been declining after hitting its record high level. Investors can consider exiting at current levels. Immediate resistance will be at Rs 700."

In its Q3 update, Kalyan Jewellers said its India operations witnessed revenue growth of approximately 41 per cent in the third quarter, led by strong festive and wedding demand across both gold and studded categories. 

Q3 recorded healthy same-store-sales (SSS) growth of 24 per cent, Kalyan said adding it launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the ongoing quarter.

"In the Middle East, we witnessed revenue growth of approximately 22 per cent when compared to the same period in the previous financial year. Middle East contributed 11 per cent to our consolidated revenue for the recently concluded quarter. During the recently concluded quarter we launched our first showroom (Company Owned Company Operated) in the United States of America," Kalyan Jewellers India said.