Here are some of the stocks in which the company’s promoters have increased their holding stake in Q3FY24 which indicates that they are positive and confident about the company’s performance and future outlook
Tide Water Oil Company (India)
Tide Water Oil Company (India) Limited is engaged in the business of manufacturing and marketing a wide range of automotive lubricants, Industrial lubricants, and specialties.
With a market capitalization of Rs. 3,153 Crores, the shares of Tide Water Oil Company (India) Limited were trading at Rs.1,810, up 1.15 percent from its previous day’s close price of Rs. 1,789.55.
Its revenue from operations grew by 20.71 percent from Rs. 1,536 Crores in FY22 to Rs. 1,854 Crores in FY23, accompanied by profits of Rs. 123 Crores to Rs. 114 Crores.
In Q3FY24, the company’s promoters increased their holding in the company from 57.28 percent to 62.27 percent, adding a 4.99 percent stake.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 62.27 percent stake, the Domestic Institutional Investors hold 1.27 percent and the Foreign Institutional Investors (FII) hold 1.38 percent.
Jayaswal Neco Industries
Jayaswal Neco Industries Limited is engaged in the manufacturing and supply of billets, rolled products, pig iron & skull, sponge iron, pellet, steel, and Iron & steel castings. It has a Global presence all over India and 8 foreign countries, with 5 manufacturing units and 2 major iron ore mines.
With a market capitalization of Rs. 5008 Crores, the shares of Jayaswal Neco Industries Limited hit a 5 percent upper circuit at Rs. 51.45, from its previous day’s close price of Rs. 49.
Its revenue from operations grew by 6.53 percent from Rs. 5,911 Crores in FY22 to Rs. 6,297 Crores in FY23, accompanied by profits of Rs. 2,247 Crores to Rs. 227 Crores.
In Q3FY24, the company’s promoters increased their holding from 48.03 percent to 53.02 percent, adding a 4.99 percent stake.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 53.02 percent stake, the Domestic Institutional Investors hold 0.00 percent and the Foreign Institutional Investors (FII) hold 0.05 percent.
Choice International
Choice International Limited is engaged in providing a wide range of financial services like Broking & Distribution, Investment Banking, Financial Services to Business Advisory, Regulatory Compliances to Government authorities, and many more.
With a market capitalization of Rs. 5,599 Crores, the shares of Choice International Limited were trading at Rs. 561.40 up 1.45 percent from its previous day’s close price of Rs. 553.35.
Its revenue from operations grew by 37.76 percent from Rs. 285 Crores in FY22 to Rs. 393 Crores in FY23, accompanied by increasing profits of Rs. 54 Crores to Rs. 60 Crores.
In Q3FY24, the company’s promoters increased their holding in the company from 56.27 percent to 57.98 percent, by adding a 1.71 percent stake.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 57.98 percent stake, the Domestic Institutional Investors hold 0.05 percent and the Foreign Institutional Investors (FII) hold 13.58 percent.
Written by: Bharath K.S
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