Shares of Kalyan Jewellers have experienced an increase recently. The rise in the company’s stock is attributed to several positive developments, including strong financial performance, positive market sentiment, or strategic business moves. Investors and market analysts are likely keeping a close eye on the company’s performance and future prospects, which are contributing to the upward movement in its share price.
Kalyan Jewellers, a prominent jeweler in South India, saw its shares rise by up to 4% on Thursday, reaching an all-time high of ₹683.15. Over the past two years, the company’s stock price has increased eightfold.
HSBC forecasts that the share price could rise by up to 19%, with some experts suggesting that it could reach ₹810. To date, 63 lakh shares of Kalyan Jewellers have been traded. The company’s main competitor is Tata’s Titan. Recently, Kalyan Jewellers’ promoter, Trikur Seetharama Iyer Kalyanaraman, acquired a 2.36% stake in the company. This move, along with the company’s strong growth, has been well-received by investors.