Kalyan Jewellers Shares Soar To Record High After HSBC Target Price Upgrade. Check The Prices

Kalyan Jewellers share price: The surge followed an upgraded target price from HSBC Securities, which raised its projection from Rs 610 to Rs 810 per share, maintaining a 'buy' rating

Kalyan Jewellers share price: Gold prices soared to a record high on Friday, fueled by a weakening US dollar and expectations of a Federal Reserve interest rate cut next week.

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Kalyan Jewellers share price: Shares of Kalyan Jewellers India soared to an all-time high of Rs 739.80 on Friday, marking a 7 per cent gain and continuing a three-day winning streak. The stock's cumulative rise over this period stands at 15.5 per cent. The surge followed an upgraded target price from global brokerage firm HSBC Securities, which raised its projection from Rs 610 to Rs 810 per share, maintaining a 'buy' rating. The revised target indicates a potential upside of 23.5 per cent from the stock's last closing price.

At 12.15 pm, the shares of Kalyan Jewellers India were trading at Rs 736.60 apiece, rising 6.83 per cent on the BSE on Friday. On the other hand, on the NSE Kalyan Jewellers stocks were trading at Rs 732.80 per share, up 6.31  per cent.

Sensex and Nifty, on Friday are trading lower amid volatility on the back of profit-taking and weak Asian trends. 

Trading volumes were also robust, with 63 lakh shares exchanged on Friday, surpassing the one-week daily average of 50 lakh shares. HSBC cited Kalyan Jewellers' capital-light expansion strategy as a key factor behind its bullish outlook. The brokerage highlighted the company's rapid growth and projected it to avoid any potential valuation downgrades.

The jewellery firm is expected to benefit from long-term catalysts, drawing comparisons to industry rival Titan. Kalyan Jewellers is currently trading at an estimated FY26 price-to-earnings (PE) ratio of 56x, around 10 per cent lower than Titan, making it an attractive option within the consumer sector.

Meanwhile, gold prices soared to a record high on Friday, fueled by a weakening US dollar and expectations of a Federal Reserve interest rate cut next week. Spot gold rose 0.2 per cent to $2,565 per ounce by 0258 GMT, after hitting a new peak of $2,567.93 earlier in the session. The precious metal has gained 2.7 per cent over the week