Editor’s Note
**Editor’s Note:** Kalyan Jewellers Ltd shares surged 4% on Tuesday, extending gains for a fifth straight session and emerging as a top gainer on the BSE Midcap index. The stock rose to Rs 535 apiece, marking a 50.8% increase over the period, while adding nearly Rs 18,500 crore to market capitalisation, now at approximately Rs 55,000 crore.
The shares of Kalyan Jewellers Ltd rose 4% in Tuesday’s trading session, marking a continued uptick in its fifth consecutive trading session, while simultaneously becoming a top gainer in BSE Midcap index.
In trade on Tuesday, the shares of Kalyan Jewellers Ltd surged to Rs 535 apiece, taking its gains to 50.8% over the past five sessions.
The positive sentiment around this stock added nearly Rs 18,500 crore to the company’s market capitalisation, which stood at about Rs 55,000 crore during the session.
Citigroup reiterated its Buy rating on the jewellery stock and maintained a target price of Rs 750 per share. Although the shares have rallied more than 50 percent since then, Citi’s target still implies further upside from current levels.
Further, the company noted that its international operations recorded revenue growth of approximately 35% for the recently concluded quarter as compared to the same period during the previous financial year.