<ul data-eligibleForWebStory="false"><li>JM Financial has initiated coverage on Kalyan Jewellers with a 'Buy' rating and set a target price of Rs 700.</li><li>The Indian jewellery market, valued at Rs 6.4 trillion in FY24, has an organised segment share of 38%, and the organized segment is expected to witness higher growth.</li><li>Kalyan Jewellers, known for its strong brand presence, is well-positioned to capture a larger market share with its asset-light mode of store expansion and unique business models.</li><li>The company aims to add 85-90 stores annually over FY26-28E through a franchise model, leading to improved return ratios and profitability.</li></ul>

Kalyan Jewellers Rated New 'Buy' At JM Financial — Check Target Price Details

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