Kalyan Jewellers shares jump 5% after Jefferies starts coverage with ‘Buy’. More upside after 63% rally in 1 month?

Kalyan Jewellers shares witnessed an uptick on Friday after Jefferies initiated coverage with a Buy rating and Rs 830 target, implying 39% upside. The stock has rallied 63% in a month. Analysts see further gains, citing strong momentum, franchise-led expansion, healthy returns and improving operating performance.