This micro cap stock opened 2% higher at its upper circuit after this ace investor bought 2.5% stake in a bulk deal on Monday’s trading session.
Share price of OM Infra closed at Rs. 61.70 previously. On the morning of Tuesday, the share price opened 2% higher and hit its upper circuit at Rs. 62.90 per share. The stock gained 67.66% in the last one year and 258.72% in the last three years.
According to NSE, Kedia Securities Private Limited, owned by ace investor Vijay Kedia, bought 2.5%, a total of 24,65,912 shares out of 25,00,000 shares sold by Om Kothari Foundation at a traded price of Rs. 61.70 per share.
The company has a market capitalisation of Rs. 593.91 crore. As per its financials, the company made a revenue of Rs. 346.66 crore in Q4FY23 which fell by 23.03% to Rs. 266.8 crore in Q1FY24. However, the company managed to keep its net profit in the green this quarter and gained 86.7% to Rs. 14.29 crore in Q1FY24 which was Rs. 7.65 crore in Q4FY23. It maintains a low debt to equity ratio of 0.21
Om Infra Limited is a construction company and caters to various industries including hydro power development, hydro mechanical equipment, real estate, hotels. It also offers turnkey solutions for steel fabrication. It was established back in 1971 when it started its turnkey operations and then expanded into a conglomerate.
Written by Bhumika Khandelwal
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