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

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.

Click Here – Get Free Investment Predictions

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.

Compare jewellery stocks on the Univest Screener

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.

Download the Univest iOS App or Univest Android App to get jewellery sector news and results alerts on your phone.

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.

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.