Overview
- Kalyan Jewellers approached SEBI alleging unfair, manipulative trading in its shares and requested a temporary halt to F&O trading pending an enquiry.
- The company described a suspected playbook of building short F&O positions, releasing misleading social-media rumors on January 7, 2025, and coordinating selling pressure.
- It told regulators that after its November 29, 2024 F&O admission, futures began trading at an unusual discount to spot in late December, which it viewed as a sign of aggressive shorting.
- BSE on February 9 sought clarification on media reports, and the company replied it was not aware of any information that had not already been disclosed under SEBI rules.
- Shares climbed about 15% on Monday to close near Rs 438, after the exchange clarification and days after the company reported strong Q3 results.