KOCHI: Shares of Thrissur-headquartered Kalyan Jewellers continued to fall on Tuesday, its second day of listing.
The share price declined by nearly 6 per cent (Rs 4.40/share) to Rs 70.90/share on the BSE on Tuesday.
With this, Kalyan Jewellers' stock price has wiped off over 18 per cent of investors' wealth from its IPO price of Rs 87/share since its listing on Friday.
The stock markets were closed on Monday due to Holi.
The fall in Kalyan Jewellers' shares for the last two sessions is in contrast to a general bullish trend in the stock markets. On Tuesday, the BSE Sensex shot up by 1,128.08 points (2.30 per cent) to 50,136.58 points.
On its trading debut on Friday, Kalyan Jewellers shares fell as much as 13.44 per cent to close at Rs 75.30 apiece on BSE.
Kalyan Jewellers raised Rs 1,175 crore through its IPO, which included a fresh issue of shares worth Rs 800 crore.