Kalyan Jewellers jumps 9%, extends 3-day rally to 36%. What's next?

Kalyan Jewellers shares surged 9 percent to Rs 483.40, extending a three-day rally to 36 percent and adding over Rs 13,280 crore in investor wealth to take market cap to Rs 49,896 crore. The rally follows the company's strong Q1 FY27 business update, with consolidated revenue growth of nearly 38 percent year-on-year and same-store sales growth of around 28 percent, despite the Adhik Maas period. Citi sees the stock rising to Rs 750 (over 69 percent upside) while ICICI Securities maintained a Buy with a Rs 670 target, citing resilient jewellery demand and franchise-led expansion.