Kalyan Jewellers Extends Rally as Strong Q1 Performance, Citi Bullish Call, and Institutional Buying Drive Momentum
Mumbai, July 11: Shares of Kalyan Jewellers India Ltd continued their remarkable rally, soaring nearly 35% over the last three trading sessions to register their strongest weekly performance in recent years. The sharp upmove was accompanied by exceptional trading activity, with more than 4 crore shares changing hands on 10 July 2026 as per the NSE bulk deal data.
Along with the positive momentum, global brokerage Citi reiterated its 'Buy' recommendation on the stock with a target price of ₹750, citing the company's robust operational performance and healthy growth outlook.
The optimism follows an impressive business update for the first quarter, where Kalyan Jewellers reported an estimated 38% year-on-year revenue growth, driven by strong consumer demand across key markets. Same-store sales growth (SSSG) stood at an impressive 28%, reflecting healthy underlying demand across its existing store network. The company also continued its aggressive expansion strategy by adding 17 new showrooms during the quarter, further strengthening its retail footprint.
Adding to the positive sentiment, the stock witnessed notable institutional buying activity on July 10. Data indicates that foreign and domestic institutional participants were active in the counter, with total buy-side transactions amounting to approximately ₹1,087.99 crore, compared with sell-side transactions worth ₹701.90 crore, resulting in a net buying of around ₹386.09 crore. Major participants included BofA Securities Europe SA, HRTI Private Limited, and Graviton Research Capital LLP, highlighting continued institutional interest in the stock.
Market participants believe the combination of strong operational execution, rapid store expansion, improving demand trends in the jewellery sector, and sustained institutional accumulation has reinforced investor confidence in Kalyan Jewellers' long-term growth story.
With healthy revenue momentum, expanding market presence, and continued brokerage support, Kalyan Jewellers remains one of the key stocks attracting investor attention in the retail and consumer discretionary space.
