Shares of this small-cap stock fell after well-known Ace Investor Mr. Ashish Kacholia sells a partial stake in the company. Keeping the short-term movements aside, the company’s stock has gained around 45 percent from Rs 427.50 to the current price level.
With a market capitalization of Rs 1,924.35 crores, the stocks of SJS Enterprises Limited opened their trading hour on Monday at Rs 635.05 and currently are trading for Rs 620. The company’s scrip witnessed an intra-day low of Rs 610.90 exhibiting a dip of around 4.50 percent compared to the previous closing levels of Rs 639.60 apiece.
Such movements in the company’s share prices were observed after Mr. Ashish Kacholia, a well-known Ace Investor and an existing stakeholder of SJS Enterprises, through a Bulk Deal, offloaded around 1.8 Lakh equity shares of the company at Rs 640 per equity share making the stake sale worth Rs 11.52 crores approximately.
As of the June 2023 quarter data available with the BSE, he held 13.48 Lakh equity shares of the company constituting a 4.34 percent stake.
During the recent quarters, the company successfully increased its operating revenues as well as net profits with the former rising from Rs 106.57 crores during Q4FY22-23 to Rs 117.25 crores during Q1FY23-24, and, the latter moving up from Rs 15.38 crores to Rs 18 crores during the same time period.
According to the shareholding data available for the June 2023 quarter, the company’s Promoters hold a 51.33 percent stake, and the Foreign Institutional Investors hold a 5.32 percent stake in the company.
SJS Enterprises Limited is engaged in the business of offering aesthetics solutions supported by a diverse range of product categories for the consumer appliance as well as automotive industries. Some of its products comprise body graphics, 3D lux badges, overlays, molded plastic parts, etc.
Written by Amit Madnani
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