UBS retracted its buy view and Rs 900 target price on Kalyan Jewellers

Tue 29 Sep 2026

Retracted target price

Rs 900

Expected same store growth

10 percent

Heard on Live TV News Channel between 15:44:21 - 15:45:36 IST.

• UBS retracted its buy rating and Rs 900 target price
• Brokerage sees stronger second-half growth outlook despite a heavy base
• Management expects same-store growth of around 10% through second and third quarters
• Company continues aggressive store expansion despite high gold prices affecting demand and ticket sizes
• Management expects gold exchange activity to remain elevated with margins managed accordingly

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