The shares of this Micro-cap stock that is into manufacturing of different types of yarns, hit ~ 2 percent after India equity funds 1 acquired a 6.20 percent stake in the company consisting of 53,50,000 equity shares.
At 3:00 p.m the shares of Himachal Fibres Limited hit upper circuit at Rs. 15.28 per share and its market capitalization is Rs. 131 Crores.
As per the company’s filing, Himachal Fibres has released an insider trading report stating that, India Equity Funds 1 have acquired 6.20 percent stake in the company consisting of 53,50,000 equity shares of the company by way of open market purchase on BSE.
In addition to this, according to insider trading data available, on October 20, 2023, its promoters Balmukhi Textiles Private Limited and Shiva Spinfab Private Limited have in total sold 31.14 percent stake in the company consisting of 2,68,61,000 equity shares through the open market.
The company’s revenue decreased 1.69 percent from Rs. 27.29 Crore in FY22 to Rs. 26.83 Crore in FY23, accompanied by decreasing loss of Rs. 6.87 Crore to a profit of Rs. 2.93 Crore.
It has reported a return on equity (ROE) of 25.47 percent and a return on capital employed of 12.55 percent, the company is making good returns on its equity but is making decent returns on its capital employed.
Himachal Fibres Limited is engaged in the manufacturing of all types of yarns such as grey, dyed, cotton, synthetic yarn with different blends.
Written by: Bharath K.S
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