Shares of the parent company of FirstCry, an Indian online store for baby products, fell nearly 5% in early trading Monday on Mumbai’s stock exchange, reaching 608.05 rupees (US$7.3) per share.

Brainbees Solutions’ stock has declined approximately 10% year-to-date, lagging behind the BSE Sensex, which has increased over 9% during the same period.

As of now, Brainbees Solutions has a market valuation of 31,711.77 crore rupees (around US$37.27 billion).

The decline followed JM Financial’s initiation of coverage on FirstCry, which assigned a ‘buy’ rating with a price target of 692 rupees (US$8.30) two days earlier.