JM Financial turns more bullish on Kalyan Jewellers after Q2 beat, lifts target price to ₹775

JM Financial turns more bullish on Kalyan Jewellers after Q2 beat, lifts target price to ₹775

Kalyan Jewellers reported a 36% YoY increase in studded jewellery revenue to ₹2,115 crore and a 27% rise in gold jewellery revenue to ₹4,583 crore. The company aims for non-south market expansion and plans to become debt-free by FY27, with a target price raised to ₹775 by JM Financial.