Kalyan Jewellers shares take a 12% dip as investors pull back
Kalyan Jewellers's stock slid nearly 12% on Wednesday, dropping to ₹397.70 by late morning.
The fall came as traders rushed to sell and bet against the stock, especially with the broader market looking shaky.
A spike in short positions and technical pressure made things worse for anyone holding on.
Big investors step back, but company growth continues
Selling was influenced by institutional activity, with mutual funds and foreign investors trimming their exposure—mutual funds hold more than 14% and foreign investors hold about 14% of the company, but earlier exits and minor shifts in past quarters have added uncertainty.
Even though promoters own a solid 62%, worries about pledged shares and past stake sales linger.
Analysts say Kalyan's business is still growing well, but its high valuation makes it extra sensitive when markets turn rough.