Kalyan Jewellers shares slip nearly 2% after two-session rally of 16%

what happened

According to TradingView, shares of jewellery retailer Kalyan Jewellers dropped nearly 2% in early Friday trade, to Rs 699 apiece. The stock had climbed 16.4% over Wednesday and Thursday and reached a new 52-week high of Rs 714.40 in the previous session. Today it was among the top losers in the midcap segment.

Year to date, the shares have gained 44.3%, while the benchmark Nifty 50 has declined around 4% over the same period. The company's market capitalisation is approximately Rs 72,100 crore.

The rally followed second-quarter FY27 results. Consolidated net profit rose 63.6% year on year to Rs 427 crore, though it included a one-off Rs 73 crore gain from selling a non-core land parcel; excluding that, growth was close to 36%. Revenue from operations climbed 31.4% to Rs 10,323 crore. JM Financial, Motilal Oswal, ICICI Securities, Citi and UBS kept their bullish stance, with target prices between Rs 796 and Rs 900.

why it matters

Investors are weighing more than the headline numbers. Same-store sales in India grew about 20%, but some analysts flagged pressure on gross margins, and management expects revenue growth above 25% in the second half of FY27. After such a sharp run-up, profit-taking is a natural reaction.

market impact

Kalyan Jewellers stock: strong results support the shares, but profit-taking after a 16% rally weighs on them

• ↔Kalyan Jewellers shares mixed — strong results and positive brokerage views support the stock, but profit-taking follows the 16% rally

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