Venus Pipes & Tubes Ltd shares were trading at Rs 1,490.15 a share on Thursday, up Rs 3.20 or 0.22 percent, with a market capitalization of Rs 3,031 crores.
According to reports, Ace investor Ashish Kacholia bought 4 lakh shares, or 1.97 percent, in the June quarter for a weighted average price of Rs 720 a share, which was less than the market price of Rs 1,147.25. Since then, the stock has increased by 107 percent from hos buying price, yielding a profit of Rs 30.8 crore.
As retail investors cannot buy stocks at a discounted price, Retail investors who purchased shares at the market price of Rs 1,147.25 per share at the beginning of the second quarter of fiscal year 2023-24, the stock would have delivered 30 percent to date based on the current market price.
As per the latest corporate shareholdings filed, Ashish Kacholia publicly holds 41 stocks with a net worth of over Rs. 2,474.9 Cr.
Venus Pipes and Tubes stock has gained multibagger returns of 106 percent in six months and 271 percent over a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.71 lakhs after a year and Rs. 2.06 lakhs after a half-year.
Venus Pipes & Tubes Limited is a stainless steel pipe and tube manufacturer and exporter. The company manufactures two types of stainless steel tube products: seamless tubes/pipes and welded tubes/pipes.
Venus Pipes and Tubes Ltd revenue has increased by 58 percent yearly, from Rs 113 crore in Q1FY23 to Rs 179 crore in Q1FY24. During the same period, net profit climbed by 89 percent, from Rs 9 crore to Rs 17 crore.
The company has maintained favorable profitability ratios with a return on equity at 13.72 percent and a return on capital employed at 19.92 percent.
According to the latest shareholding pattern, The promoters hold 48.2 percent of the firm, while foreign institutional investors own 6.49 percent and Domestic institutional investors own 8.73 percent.
Written by Omkar Chitnis
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