Kalyan Jewellers Stock Drops 13%: What's Driving the Losses?

Promoters of Kalyan Jewellers had acquired a 2.36% stake from Warburg Pincus in August 2024 at ₹535 per share. The stock is trading well below those levels. The amount of pledged shares from promoters has also increased to 24.89% at the end of the December 2025 from 19.32% in December last year. Shares of Kalyan Jewellers India Ltd. are down 13% on Wednesday, January 21, extending their losses for the eighth straight session. The stock has declined 22% during this eight-day losing streak. In the 13 trading sessions so far in 2026, the stock has declined in 10 of them. Adding today's fall, the stock is down 18% so far in the last 12 months. During this period, some Mutual Funds have trimmed their stake in the stock. Sundaram Midcap Fund's name does not appear in the list of public shareholders, contrary to December 2024, where it had a 1.02% stake. This either means that the stake is now less than 1% or the fund has made a complete exit. The Government of Singapore has also marginally trimmed its stake over the last 12 months to 1.75% from 2.01%. On the flip side Motilal Oswal Midcap Fund has increased its stake to 9.05% in December 2025 from 6.3% in December 2024. Promoters of the company had acquired a 2.36% stake from Warburg Pincus in August 2024 at ₹535 per share. The stock is trading well below those levels. The amount of pledged shares from promoters has also increased to 24.89% at the end of the December 2025 from 19.32% in December last year. While the stock has continued to decline, the number of retail shareholders have increased from 5.59 lakh shareholders at the end of December 2024 to 6.62 lakh shareholders in December 2025. In percentage terms, these retail shareholders, or those with authorized share capital of up to ₹2 lakh, increased to 5.88% from 5.17% last year. Shares of Kalyan Jewellers are trading 12.4% lower at ₹396.