22 Oct 2025 | 5 Mins Read
Nuvama predicts 31% upside for gold jewellery stock
Flipitmoney
Nuvama Institutional Equities initiated coverage on PN Gadgil Jewellers with a 'Buy' rating and a target price of Rs 860, implying a 31% upside. Key factors include a strong market position in Maharashtra, aggressive geographical expansion with 34% store addition CAGR over FY25-28, and increasing high-margin studded jewellery for margin expansion with a 26% net profit CAGR between FY25-28.