Stocks to buy today | Jefferies India stock recommendations: Kalyan Jewellers share price has been on an uptrend for the last three months. The jewellery store has risen from around ₹355 to ₹556 apiece in the last three months, delivering around 55% returns to its shareholders. However, the global investment bank Jefferies sees more upside in Kalyan Jewellers shares.
According to the latest Jefferies India report, the Kalyan Jewellers share price may continue its uptrend. It has predicted 46% upside, with a Kalyan Jewellers share price target of ₹830. Kalyan Jewellers' share price finished at ₹556 per share on the NSE on Thursday. When the Jefferies report was published, Kalyan Jewellers' share price was ₹568.80. So, if an investor buys Kalyan Jewellers shares on Friday, they will have a chance to earn more than Jefferies' predicted upside.
The global investment bank issues this bullish report on Kalyan Jewellers shares following an interaction with Ramesh Kalyanaraman, the Promoter and ED of the jewellery brand.
The Jefferies India report said that Ramesh shared Kalyan's journey and emphasised that jewellery is fundamentally a relationship-driven business in which credibility compounds over time. Its hyperlocal model, people-centric culture and measured expansion have created a differentiated & scalable retail franchise. The company's edge lies in combining local relevance with scaled execution, making Kalyan one of the few successful national jewellery brands.
“Early expansion reinforced an important lesson: jewellery consumption varies even across nearby markets. This insight shaped Kalyan’s hyperlocal approach to inventory, pricing, marketing and beyond. The model enables Kalyan to operate like a regional jeweller while benefiting from national scale,” the Jefferies India report said.