Jefferies Sees 46% Upside for Kalyan Jewellers After Shares Rise 55%

Kalyan Jewellers shares rallied 55 percent over the past three months, closing at ₹556 on the NSE.

Global investment bank Jefferies initiated a bullish outlook with a target price of ₹830 following discussions with promoter Ramesh Kalyanaraman.

The company's hyperlocal inventory and measured retail expansion strategy were cited as key drivers of sustainable long-term growth.