Shares of this financial company surged 4% today after details about its recent bulk deals appeared in the exchange. The stock lost nearly 9% yesterday.
Shares of Prudent Limited on Thursday opened in a gap down of 5% at Rs. 1135.50 per share. Further, the stock went down another 5% to reach its intra- day low of Rs. 1,058 per piece. In Friday’s trading session, the stock gained nearly 4% to reach its intra- day high of Rs. 1132.50 after which it closed at Rs. 1096.60 levels.
On 31st August 2023, the shares of Prudent were sold through a bulk deal. Its share price fell yesterday since the buyers were unidentified. After the information surfaced in BSE, the share prices traded 4% higher. Two of the known buyers are Abu Dhabi Investment Authority who bought a fresh stake of 0.8% in the company. Abu Dhabi bought a total of 3,36,000 shares at the price of Rs. 1,125 per share. DSP Mutual Fund also bought 4.8% stake, a total of 20,04,775 shares at the rate of Rs. 1125 per share.
Comparing on a QoQ basis, revenue of Rs. 165.43 crore has been reported for Q1FY24, a decrease of 6.5% from Rs. 176.97 crore in Q4FY23. Its net profit for Q1FY24 stands at Rs. 28.06 crore which decreased 31.9% from Rs. 41.23 crore in Q4FY23.
Prudent Corporate Advisory Services Limited provides financial services for individuals, corporates and any party looking for investment opportunities. Their team has highly skilled professionals and well trained channel partners.
Written by Bhumika Khandelwal
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