The shares of D Link India Limited dropped by more than 6 percent till the afternoon on Thursday and were trading at Rs 214 levels. One of the reasons for the decline could be the block deal by ace investor Ashish Kacholia on Wednesday.
As per the NSE bulk deal details, the ace investor sold 2.13 lakh shares or 0.6 percent stake in the company via open market transactions at an average price of Rs 242.56 per share.
As per the shareholding pattern in the September quarter, the ace investor held 11.86 lakhs shares or 3.3 percent stake in the company. Post the block deal, his total holding now stands at 9.73 lakh shares or a 2.7 percent stake.
D-Link is a global leader in designing and developing networking and connectivity products for consumers, small businesses, medium to large-sized enterprises, and service providers. It is one of the largest networking companies in India.
The shares of the company have declined by 16 percent in the past five days. However, in a longer time frame, the stock has delivered strong returns. In the span of six months, it has rallied by more than 90 percent.
The Financials of the company improved in the recent quarter as their revenue grew to Rs 263.11 Crore up from Rs 228.5 Crore in the same period last year. Their net profit grew multifold to Rs 22.7 Crore up from Rs 12.6 Crore in Q2FY22.
The small-cap company has a market capitalization of Rs 757 Crore and a dividend yield of 1.40 percent. In addition to that, the promoters hold a 51.02 percent stake in the company with zero shares pledged.
Written by Anoushka Roy
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
