Kalyan Jewellers' stock has surged by 4% to reach an all-time high of ₹683.15 on 12th September, following a significant price target revision by brokerage firm HSBC. Despite the jewellery giant's value skyrocketing eightfold in the last two years, HSBC maintains an optimistic view of its growth trajectory. Investors looking to buy shares online might find this an attractive opportunity.
HSBC remains bullish on Kalyan Jewellers, raising its target price from ₹600 to ₹810 while retaining a 'buy' rating. The firm forecasts a further 19% upside, indicating the stock is only halfway through its value creation journey. This provides a compelling case for investors considering buying shares online, as HSBC sees continued exponential growth for the jewellery maker.
At 11:12 am on 12th September, Kalyan Jewellers' shares were trading at ₹675.35 on the NSE, just shy of its record high. Trading volumes have been robust, with 63 lakh shares exchanging hands, far surpassing the average daily trade volume of 50 lakh shares over the past week. This reflects heightened investor interest, making it a key moment for those looking to buy shares online.
HSBC commends Kalyan Jewellers for its capital-light expansion strategy, which continues to propel the company's growth at a rapid pace. The brokerage believes this growth will protect Kalyan from any potential multiple de-rating, further reinforcing its 'buy' recommendation. Investors considering a share market investment should take note of this expansion strategy, as it enhances Kalyan's future growth potential.
In addition, promoter Trikkur Sitarama Iyer Kalyanaraman recently acquired an extra 2.36% stake from global private equity firm Warburg Pincus. This further solidifies market expectations for the company's robust performance and adds another layer of confidence for those looking to buy shares online.
One of the most compelling reasons to invest in Kalyan Jewellers is its valuation compared to industry rival Titan. Currently, Kalyan Jewellers is trading at an estimated FY26 PE ratio of 56x, about 10% lower than Titan's valuation. This makes it an attractive buy compared to other consumer sector stocks, especially for investors looking for value in the jewellery market. For those aiming for a smart share market investment, Kalyan offers promising prospects.
In summary, Kalyan Jewellers is well-positioned for continued growth, supported by bullish sentiments from major brokerage firms, robust trading volumes, and favourable market conditions. Investors keen to buy shares online should consider this opportunity as Kalyan looks set for further value appreciation in the coming years.
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