Kalyan Jewellers' shares plummeted over 12% on Wednesday, marking their steepest single-day fall in three years and extending a nine-session losing streak. Investors are nervous due to concerns about a mutual fund potentially reducing its stake, coupled with an increase in promoter share pledging. Margin calls also contributed to the significant decline.
FMCG companies anticipate mid-single to low-double-digit revenue growth in the December quarter, fueled by volume increases, easing GST disruptions, and stable pricing. Resilient rural demand and portfolio premiumization are key drivers, with ITC and HUL expected to show healthy improvements. Nestle India is poised for double-digit revenue growth as post-GST normalization continues.
Foreign investors withdrew 22,420 crore from Indian markets in early January 2026. The FMCG sector saw the largest sell-off, losing shares worth 6,128 crore. Financial services and IT also experienced outflows. Investors are reportedly sensitive to high valuations in FMCG. Metals and mining was the only sector to see significant foreign buying.
The city of Aurora has announced it will be launching a new center that will offer job training in clean energy-related fields though a partnership with two educational organizations.
Nathans Famous, which opened as a 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in an all-cash $450 million deal, the companies announced Wednesday.
