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'Add' Kalyan Jewellers Maintains ICICI Securities, Revises Target Price — Here's Why
Kalyan Jewellers can rally 15% projects ICICI Securities, maintains Add with a DCF-based revised target price of Rs 520.
21 Mar 2025, 10:57 AM IST 
In 9M FY25, Kalyan Jewellers outperformed industry by delivering 35% YoY revenue growth versus 20% for Titan.
(A Kalyan Jewellers India Ltd.'s store exterior in Mumbai. Photo Vijay Sartape/NDTV Profit).
Expect step-up in network expansion of Candere to cater to increasing demand for fast fashion jewellery among youth and jewellery gifting. The potential for Candere is huge with its small format store; it can be a major growth lever for Kalyan Jewellers over long term.
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