Kalyan Jewellers Share Price Hits a 52-Week High of Rs 689: Q2 Profit Jumps 64%, but a Rs 73.5 Crore Land Sale Gain and a Weak Middle East Need a Closer Look
- November 12, 2026
- Posted by: Chaitanya Auti
- Category: Results
Kalyan Jewellers hit a 52-week high of Rs 689 on 11 Nov 2026, closing near Rs 672. Q2 FY27 profit Rs 427.1 cr, +63.9%, incl. Rs 73.5 cr land sale gain.
Quick Answer
The Kalyan Jewellers share price hit a 52-week high of Rs 689 on 11 Nov 2026 and closed near Rs 672 after Q2 FY27 profit rose 63.9% to Rs 427.1 crore. The profit includes a Rs 73.5 crore land sale gain.
The Kalyan Jewellers share price hit a 52-week high of Rs 689 on 11 November 2026 and closed near Rs 672, about 10% higher on the day, after the jeweller reported a 63.9% jump in Q2 FY27 profit. Mint’s headline says the stock has risen 41% in nine sessions, a figure I could not confirm independently, so this note sticks to exchange-reported numbers. It sets out the price levels, the results, the one-off items and the risks.
Prices and results come from news reports on 11 November and can differ by a few rupees across data pages. Check NSE and BSE for the live quote. The stock rallied on a strong market day when the Nifty 50 and Sensex were both higher.
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Kalyan Jewellers Share Price: 52-Week High in Numbers
| Item | Figure | Source note |
|---|---|---|
| Kalyan Jewellers intraday high | Rs 689 on 11 November 2026 | 52-week high; stock was up about 12% at the peak |
| Kalyan Jewellers share price: close on 11 November | About Rs 672.10, up about 10% | Market reports |
| Previous 52-week high | Rs 648.95 | Earlier high, as reported |
| Kalyan Jewellers share price: 52-week low | Rs 327.05 | Same data pages |
| Kalyan Jewellers share price: gain in 2026 so far | About 39% | Market reports |
| Kalyan Jewellers share price: nine-session gain | 41% per Mint headline | Not verified here |
The Rs 689 high is about 6.2% above the earlier Rs 648.95 high, and the Rs 672.10 close is about 105% above the 52-week low of Rs 327.05 (my arithmetic). A move of that size in under a year shows how much the market has re-rated the stock, and it also shows how far the price can fall if results disappoint.
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Q2 FY27 Results: What Drove the 64% Profit Jump
| Measure | Q2 FY27 | Comparison |
|---|---|---|
| Kalyan Jewellers share price: net profit | Rs 427.1 crore | Up 63.9% from Rs 260.5 crore |
| Kalyan Jewellers share price: revenue | Rs 10,322.6 crore | Up 31.4% from Rs 7,856 crore |
| Kalyan Jewellers share price: EBITDA | Rs 644.7 crore | Up 29.7% |
| Kalyan Jewellers share price: india (domestic) profit | Rs 424 crore | Up about 62% |
| Kalyan Jewellers share price: india same-store sales | Up about 20% | As reported |
| Kalyan Jewellers share price: middle East profit | Down 19% | Weaker than India |
| 52-week high: quarter on quarter | Profit up 22.5%, revenue down about 2.5% | Sequential view |
The strength came from India, where same-store sales grew about 20% and domestic profit rose about 62%. The Middle East business moved the other way, with profit down 19%, so the overseas arm is a drag on an otherwise strong quarter. Revenue fell about 2.5% from the previous quarter, which is worth noting because the headline profit growth is measured against a year-ago base.
One-Off Gain and Adjusted Profit
| Item | Figure | Note |
|---|---|---|
| 52-week high: land sale gain in Q2 | Rs 73.5 crore | Included in reported profit |
| 52-week high: adjusted profit (IndMoney) | About Rs 333 crore | Management-adjusted figure as reported |
| 52-week high: simple subtraction | Rs 353.6 crore | Rs 427.1 crore minus Rs 73.5 crore; ignores tax |
| 52-week high: adjusted growth over Rs 260.5 crore | About 28% | My arithmetic on the Rs 333 crore figure |
The adjusted figure of about Rs 333 crore is lower than a plain subtraction, and the gap may reflect tax on the gain, so check the exchange filing for the exact treatment. Even on the adjusted number, profit grew by roughly a quarter, which is far slower than the 63.9% headline. Investors who read only the headline may overstate how fast the core business is growing.
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Brokerage View, Peers and Risks
| Topic | Detail | Note |
|---|---|---|
| UBS rating | Buy with a target of Rs 900 | About 34% above Rs 672.10 (my arithmetic); an opinion |
| Listed peers | Titan and Senco Gold | Jewellery stocks also react to gold prices and festive demand |
| Key sensitivities | Gold price swings, wedding season demand, Middle East performance | Common to the sector |
A target is one broker’s opinion and can change after the next result. The main risks are a sharp move in gold prices, a slowdown in discretionary spending, the weak Middle East business, a premium valuation after a fast rally and a market-wide reversal. Univest does not recommend any security.
Checklist Before Acting on a 52-Week High
| Investor situation | Questions to consider |
|---|---|
| Existing holder | Has the 39% rise in 2026 made this position larger than my plan allows? |
| New investor | Have I read the Q2 filing, including the one-off land sale gain, and not only the headline? |
| Short-term trader | Can I handle a pullback after a 10% one-day jump? |
| Long-term investor | Does the valuation fit my time horizon after the re-rating? |
Conclusion
The Kalyan Jewellers share price hit a 52-week high of Rs 689 on 11 November 2026 after Q2 profit grew 63.9%, but a Rs 73.5 crore land sale gain and a weak Middle East arm mean the core growth is lower than the headline. Read the filing and consult a SEBI-registered adviser before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on the Kalyan Jewellers Share Price
What is the Kalyan Jewellers share price 52-week high?
Ans. The stock touched Rs 689 on 11 November 2026 and closed near Rs 672.10, up about 10%. The earlier 52-week high was Rs 648.95 and the 52-week low is Rs 327.05.
Why did the Kalyan Jewellers share price rise today?
Ans. The jump followed Q2 FY27 results, with profit up 63.9% to Rs 427.1 crore and revenue up 31.4% to Rs 10,322.6 crore. India same-store sales grew about 20%.
Is the 41% gain in nine sessions correct?
Ans. That figure comes from Mint's headline and I could not verify it independently. The stock is about 39% higher in 2026 so far per market reports, so check the price history for the exact window.
How much of the Q2 profit was a one-off?
Ans. The result includes a Rs 73.5 crore land sale gain. IndMoney cites an adjusted profit of about Rs 333 crore, which is about 28% above last year's Rs 260.5 crore by my arithmetic.
How did the Middle East business perform?
Ans. Middle East profit fell 19%, while India profit rose about 62% to Rs 424 crore. The overseas arm is the weak spot in the quarter.
What is the UBS target on Kalyan Jewellers?
Ans. UBS has a Buy rating with a target of Rs 900. That is about 34% above Rs 672.10 by my arithmetic, but a target is an opinion and can change.
What are the main risks for jewellery stocks?
Ans. Gold price volatility, weaker discretionary demand, competition, overseas weakness and a high valuation after a rally. A 52-week high does not mean the stock cannot fall.
Should I buy Kalyan Jewellers at a 52-week high?
Ans. Univest does not recommend any security. A 52-week high is a price fact, not a signal. Read the results and consult a SEBI-registered adviser before acting.