Citi bullish on Kalyan Jewellers despite Q1 miss

Citi remains bullish on Kalyan Jewellers despite Q1 revenue growth missing estimates. The brokerage expects strong demand momentum and margin expansion to drive performance, raising its target price. Revenue grew 12% YoY versus an estimated 18%, but EBITDA margin improved to 14.5%. 📊 STOCKS: KALYANKJEW | 🏢 SECTOR: Retail | #MEDIUMIMPACT #BrokerCall