Following are two small-cap stocks that witnessed fluctuations in their share prices after Foreign Institutional Investors (FIIs) sold stake in the company, according to the bulk deal data available with the National Stock Exchange (NSE).
Dharmaj Crop Guard Limited
In Thursday’s trading session, the shares of an agrochemicals company moved up by 3.13 percent to Rs. 309.5, as against its previous closing price of Rs. 299.65.
With a market cap of Rs. 1,030.8 crore, the stock has delivered positive returns of around 74.7 percent in one year, and nearly 15.4 percent returns year-to-date.
The foreign investor Elara India Opportunities Fund Limited sold 2 lakh equity shares, representing a 0.6 percent stake, in Dharmaj Crop Guard valued at Rs. 6.1 crore, at an average price of Rs. 305.24.
As of March 2024 shareholding pattern available with the BSE, Elara India Opportunities Fund held a 4.07 percent stake in Dharmaj Crop Guard.
In terms of financials, the revenue from operations stood at Rs. 116.07 crore in Q4 FY23-24, representing a significant year-on-year (YoY) increase of 74.7 percent from Rs. 73.7 crore in Q4 FY22-23.
However, the company’s after-tax profit during the same period shifted from a profit of Rs. 1.25 crore in Q4 FY22-23 to a loss of Rs. 3.4 crore in Q4 FY23-24.
Dharmaj Crop Guard Limited is engaged in manufacturing & marketing agrochemical formulations like insecticides, fungicides, herbicides, plant growth regulators, and microfertilisers.
The company is also engaged in the business of general insect and pest control chemicals for public and animal health protection.
ideaForge Technology Limited
The shares of a pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market surged 2.5 percent to Rs. 829.5, as compared to its previous closing price of Rs. 808.85.
With a market cap of Rs. 3,510.3 crore, the stock has delivered negative returns of around 37 percent in one year, and nearly 2 percent of negative returns year-to-date.
The foreign investor Think India Opportunities Master Fund LP sold nearly 2.23 lakh equity shares, representing a 0.52 percent stake, in ideaForge Technology valued at approximately Rs. 17.8 crore, at an average price of Rs. 796.6.
In terms of financials, the revenue from operations stood at Rs. 102.3 crore in Q4 FY23-24, rising by 164.6 percent YoY from Rs. 38.66 crore in Q4 FY22-23, and the after-tax profit grew to Rs. 10.33 crore from a loss of Rs. 5.4 crore, during the same period.
Incorporated in 2007, ideaForge Technology Limited is engaged in the business of manufacturing and marketing Unmanned Aerial Vehicles (UAVs) systems used for security and surveillance.
Written by Shivani Singh
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