Quant Mutual Fund has acquired a 2.6% stake in luxury watch retailer Ethos for Rs 175 crore, while BofA Securities Europe invested Rs 385 crore in Kalyan Jewellers. These transactions reflect significant institutional activity as both companies saw heavy trading volumes on July 10, 2026.
Institutional investors were active in the Indian market on Friday, July 10, 2026, with notable block deals involving luxury retail and jewellery stocks. Quant Mutual Fund, a major domestic fund house, expanded its holdings in the luxury watch segment by acquiring a 2.6 percent stake in Ethos Limited. The deal, valued at Rs 175 crore, involved the purchase of 7 lakh shares at a price of Rs 2,500 per share.
The shares were acquired from the UK-based investment firm Jupiter Fund Management. Jupiter Global Fund-Jupiter India Select and Jupiter India Fund collectively sold their positions, marking a complete exit from this specific holding for the fund house. Despite the entry of a large domestic investor, Ethos shares saw a minor decline of 1.94 percent, closing the day at Rs 2,477.50 on the exchanges.
In a separate transaction within the consumer discretionary sector, BofA Securities Europe SA increased its exposure to the domestic jewellery market. The firm purchased 81.82 lakh shares of Kalyan Jewellers India, representing a 0.79 percent stake in the company. The transaction was valued at Rs 385.33 crore, executed at an average price of Rs 470.95 per share. Following this acquisition, the stock of Kalyan Jewellers witnessed positive momentum, rising 7.5 percent to close at Rs 476.15 on the National Stock Exchange.
The activity extended to the pharmaceutical sector as well, where TPG Growth IV SF Pte reduced its holding in Solara Active Pharma Sciences. The firm sold 3 lakh shares, or a 0.62 percent stake, for Rs 17.19 crore at an average price of Rs 573.20 per share. Solara shares closed marginally higher at Rs 568.90. Additionally, Wave Capital sold a 0.61 percent stake in Ortin Global for Rs 8.12 lakh.
For investors, these transactions highlight changing shareholding patterns among institutional players. While retail and institutional interest in luxury and jewellery retail remains high due to consistent consumption trends, the exit of long-term holders like Jupiter Fund from Ethos and TPG from Solara Active Pharma often draws attention to the future growth outlook of these companies. Investors may monitor future quarterly filings to see if these institutional entries and exits influence the overall management strategy or stock price volatility in the coming months.