During Thursday’s trading session, shares of a company engaged in the manufacturing and assembling of automotive components surged nearly 4 percent on the BSE, after Nippon Mutual Fund bought a total of 1.55 percent stake in the company for nearly Rs. 54.5 crores.
With a market cap of Rs. 3,621 crores, at 10:29 a.m., the shares of JTEKT India Limited were trading in the green at Rs. 142.45 on BSE, up by around 1 percent, as against its previous closing price of Rs. 140.95. The stock has delivered negative returns of around 33 percent in one year, but has gained by over 2 percent in the last one month.
What’s the News
According to the latest bulk deal data available with the NSE, Nippon India Mutual Fund A/C Nippon India Small Cap Fund purchased nearly 20 lakh equity shares, representing a 0.79 percent stake, in JTEKT India Limited. The transaction was valued at nearly Rs. 27.7 crores, executed at an average price of Rs. 138.84 per share.
Additionally, Nippon India Mutual Fund bought around 19.25 lakh equity shares in the company, equivalent to a 0.76 percent stake, for Rs. 26.7 crores via a bulk deal transaction on BSE, at an average price of Rs. 138.82 per share.
Financials & more
JTEKT India reported a marginal growth in its revenue from operations, showing a year-on-year rise of around 3 percent from Rs. 632 crores in Q4 FY24 to Rs. 649 crores in Q4 FY25. In contrast, its net profit decreased during the same period from Rs. 34 crores to Rs. 25 crores, representing a decline of around 26 percent YoY.
JTEKT India Limited is engaged in the business of manufacturing steering systems & other auto components for passenger car and utility vehicle manufacturers in the automobile sector.
Written by Shivani Singh
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