Archive · 1 Oct 2025
ICICI Securities Sees 50% Upside for Kalyan Jewellers Stock
ICICI Securities thinks a jewelry company, Kalyan Jewellers, is a good investment.
They believe the stock price could go up by 50%.
This is because people are still buying jewelry even though gold prices are high, especially during the festive season.
The company is opening more stores and reducing debt.
ICICI Securities expects strong sales growth.
The stock price has recently gone down, but this presents an opportunity for investors.
The brokerage sees continued success in the company's expansion through franchising.
ICICI Securities upgraded Kalyan Jewellers to ‘Buy’ with a target price of Rs 670.
The brokerage anticipates strong same-store sales growth in FY26, driven by festive and wedding demand.
Kalyan Jewellers is expanding through the FOCO model and aiming for debt reduction.
The stock has declined recently, offering potential for investors.
Kalyan Jewellers added 10 new showrooms in Q1, reaching a global store count of 287.
- Who
- ICICI Securities and Kalyan Jewellers
- What
- ICICI Securities upgraded Kalyan Jewellers to ‘Buy’ and expects strong growth.
- When
- Ahead of Diwali and Dhanteras, FY26.
- Where
- N/A
- Why
- Due to steady demand, store expansion, and debt reduction.
- Company
- Kalyan Jewellers
- Analyst
- ICICI Securities
- Target Price
- Rs 670
- Potential Upside
- 50%
- Store Count (Global)
- 287 (as of Q1)
- FOCO Store Count
- 161 (as of Q1)