The stock surged 11.5% to hit an intraday high of ₹384.5 apiece on Monday. It was trading ₹383.5 apiece, up 11.2%, as of 1.45pm.
Despite the sharp rally, the stock remains nearly 38% below its 52-week high of ₹617.70, touched in July last year.
Kalyan Jewellers has a significant presence in West Asia, operating 38 showrooms across the region as of March 31, 2026. Its international operations accounted for 11% of the company’s consolidated revenue during the March quarter.
The stock had come under pressure during the escalation of tensions in West Asia, hitting a 52-week low of ₹327.05 on June 11. Monday’s rally follows improving sentiment after the US and Iran agreed to a peace deal that is expected to bring an end to months of conflict and facilitate the reopening of the Strait of Hormuz.
In its March-quarter earnings report, Kalyan Jewellers said its West Asia operations delivered revenue growth of nearly 39% from the previous year, while overall international revenue increased 45%.
The company noted that geopolitical tensions had hurt customer walk-ins during the first three weeks of March, although stores remained operational throughout the period. Strong Ramadan sales during the final 10 days of the month helped offset the earlier weakness.
The company reported consolidated revenue growth of 64% during the March quarter, led by a 65% increase in India revenue. Same-store sales growth in the domestic business stood at 45%, with both wedding and discretionary demand remaining robust despite volatile gold prices.
As of March 31, 2026, Kalyan Jewellers had a total network of 507 showrooms, including 342 in India, 38 in West Asia, two in the US, one in the UK, and 124 Candere outlets.
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