Shares of Kalyan Jewellers rose 10% this week following a target price increase by brokerage firm HSBC.
In spite of the stock’s sharp eight-times spike in value over the previous two years, HSBC is still positive on the jewellery manufacturer. The brokerage company believes the stock is still in the midway of its value creation journey and sees another 19% upside potential.
Therefore, the firm increased its price target for the stock to Rs 810, up from the previous Rs 600, while maintaining its ‘buy’ call on Kalyan Jewellers.
Stock Performance on Friday
– Open: ₹697.90
– High: ₹749.00
– Low: ₹694.05
