Share price of one of the largest sports and athleisure footwear brands in terms of value and volume moved up by 12.54 percent to Rs. 275.80 in the morning session of Wednesday, compared to its previous closing price of Rs. 245.05 on NSE, following a block deal.
With a market cap of Rs. 7,947.3 crore, the shares of Campus Activewear Ltd. opened at Rs. 257.25 on February 21st and the stock is currently trading in the green at Rs. 261.30, up by 6.63 percent.
The company’s performance in the stock market has not been good lately. In the last six months, it has given negative returns of over 17.1 percent, and in the last one year, nearly 28.3 percent. Even in 2024, it has given negative returns of more than 8.2 percent.
According to the Economic Times, Campus Activewear increased by more than 12 percent after nearly 1.3 percent of equity was reported to have changed hands before the market opened. However, the buyer remains unknown.
The transaction amount for the deal was worth Rs. 100 crore, at an average target price of Rs. 245 per share, the same as the closing price of Tuesday.
Since it involves a huge trade, the block deal was carried out in a separate window to prevent any risk.
In terms of financials, the revenue from operations of Campus Activewear grew by 82.23 percent from Rs. 259 crore in Q2 FY23-24 to Rs. 472 crore in Q3 FY23-24, accompanied by an increase in net profit by over 24900 percent to Rs. 25 in Q3 FY23-24 from Rs. 0 in Q2 FY23-24.
As of December 2023, FIIs hold 5.94 percent of the shares, whereas DIIs hold 7.07 percent of the shares in the company, aggregating to 13.01 percent of the institutional holdings.
Campus Activewear Limited was introduced in 2005 as a lifestyle-oriented sports and athleisure brand, and offers a wide range of footwear including floaters, walking shoes, flip flops, and sandals, at affordable prices.
Written by Shivani Singh
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