New Delhi, July 17 -- Kalyan Jewellers share price has extended its winning run to the fourth straight session on Thursday, July 17, gaining another 3.2% to hit a 6-month high of Rs.609.50 apiece. The stock has come into the spotlight in recent sessions after domestic brokerage JM Financial initiated coverage with a 'Buy' rating.

It highlighted the company's hyperlocal approach to cater to diverse regional consumer preferences, the increasing share of organized players in the jewellry market, and Kalyan's rapid expansion strategy via its franchise model as key drivers of future growth.

Notably, JM Financial believes the shift to an asset-light franchise structure will support faster store rollouts and long-term profitability.

The stock...