Kalyan Jewellers shares jump over 12% to record high after Q2 profit surge

what happened

Shares of Indian jewellery retailer Kalyan Jewellers rose more than 12% on Wednesday to a fresh high. According to Moody's, the company posted a 64% year-on-year increase in consolidated profit after tax, to 427 crore rupees for the September quarter of FY27. Revenue grew 32%, to 10,323 crore rupees from 7,856 crore a year earlier.

Executive Director Ramesh Kalyanaraman said the festive quarter had started well, particularly during Navratri and Dhanteras. He said the company was upbeat about wedding-season demand and expected to close the quarter strongly. At 9:52 am the stock traded at 684.60 rupees on the NSE, compared with a previous close of 611 rupees.

UBS kept its buy rating on the stock, as did HSBC. HSBC said inventory gains and customs-duty benefits need further clarity before underlying profitability can be assessed.

why it matters

Strong revenue and profit growth tied to festive demand makes the result relevant for the jewellery sector. Analysts also flag gold price volatility as a key risk, so margins will be watched closely in coming quarters.

market impact

Kalyan Jewellers shares: strong results and festive demand support the stock; gold price swings are the main risk

• ▲Kalyan Jewellers shares pressure up — higher profit and revenue after the results drew investor interest
• ↔Gold mixed — stronger jewellery demand lifts consumption, but metal price volatility remains a risk for the sector

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