Shares of Kalyan Jewellers India Ltd. rose on Tuesday, a day after ICICI Securities upgraded the stock from “add” to “buy”. The brokerage highlighted that the stock could rise up to 50 per cent, driven by continued demand in the jewellery segment.

Analysts at the brokerage noted that last year’s 35 per cent correction in the share price provides investors with a margin of safety.

With festive and wedding-led spending expected to remain robust, ICICI Securities projects strong same-store sales growth (SSSG) in FY26.

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Kalyan Jewellers share price target

ICICI Securities retained a price target of Rs 670 per share.

At Monday'

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