Two Foreign Institutional Investors (FIIs) were active in bulk transactions, both buying and selling stakes in two major Indian cement companies.
A Bulk Deal is a transaction in which a single entity buys or sells a huge amount of a company’s shares in a single trade. Bulk deals refer to large-volume stock transactions conducted through the regular trading window of a stock exchange.
It is a deal where the total quantity of shares bought or sold is greater than 0.5 percent of the share capital of the company.
Orient Cement Ltd.
Orient Cement Ltd. is a manufacturer and supplier of cement products. Its product mix includes Ordinary Portland Cement (OPC) and Pozzolana Portland Cement (PPC) sold under the brand name of Birla A1.
The share price of Orient Cements Ltd. has gained more than 134 percent returns in a year.
Bulk Deal
On July 29, 2024, Citigroup Global Markets Mauritius Pvt. Ltd. completed a significant purchase of Orient Cement Ltd. shares. In this transaction, they acquired a total of 14,51,414 shares at a price of Rs.351.38 per share.
Financials
The revenue from operations of the company grew by 18.24 percent to Rs.888 crore for the quarter ending March FY24, up from Rs.751 crore in the previous quarter Q3FY24. Meanwhile, profit after tax (PAT) saw a substantial increase of 51.11 percent, rising to Rs.68 crore from Rs.45 crore in the same period.
Shareholding pattern
As per the shareholding pattern of June 2024, the company’s promoters hold a 37.9 percent stake, while retail investors collectively own 62.1 percent of the company’s shares.
India Cements Ltd.
India Cements Ltd. is a leading cement manufacturing company headquartered in Chennai. India Cements has ventured into related fields like shipping, captive power and coal mining that have purposeful synergy to the core business. The company is also a sponsor of the IPL franchise “Chennai Super Kings”.
The share price of India Cements Ltd. has gained more than 68 percent returns in a year.
Bulk Deal
On July 29, 2024, Societe Generale executed a substantial sale of shares in India Cements Limited. The transaction involved selling a total of 20,61,506 shares at a price of Rs.378.15 per share.
Financials
India Cements Ltd. saw a revenue increase of 10.75 percent to Rs.1,267 crore for the quarter ending March FY24, up from Rs.1,144 crore in the previous quarter (Q3 FY24). Despite this revenue growth, the company reported a net loss of Rs.61 crore for Q4 FY24, a reversal from the net profit of Rs.1 crore reported in Q3 FY24.
Shareholding pattern
As per the shareholding pattern of June 2024, the company’s promoters hold a 28.42 percent stake, while retail investors collectively own 71.58 percent of the company’s shares.
Written by – Siddesh S Raskar
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