A company is said to be ‘fundamentally strong’ when it portrays a specific set of characteristics, some of which include strong and consistent financial performance, lower leverage ratios, and many more.
Established in 1861, the “Massachusetts Institute of Technology” (MIT) is a Private Research University in Cambridge, Massachusetts. MIT plays a significant role in the development of various areas of modern science and technology.
Listed below are three stocks under the ‘small-cap’ category in which MIT bought a fresh stake during the quarter ended March 2024:
Hercules Hoists Limited
With a market capitalization of Rs 1,510.40 crores, the stocks of Hercules Hoists Limited started their trading session on Friday at Rs 474.30 and closed the session at Rs 472, gaining approximately 0.30 percent compared to the previous closing level of Rs 470.40 apiece.
As per the latest shareholding data available, “Massachusetts Institute of Technology”, one of the well-known foreign institutions, bought a fresh stake in Hercules Hoists Limited by subscribing to 5 lakh equity shares of the company equivalent to a 1.56 percent stake, Currently, the investment value of his holding stands at Rs 24 crores.
During the recent financial quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, showed some positive movements with the former staying uniform at Rs 40 crores, and the latter, during the same period, rising marginally from Rs 9 crores during Q2FY24 to Rs 10 crores during Q3FY24.
NIIT Learning Systems Limited
With a market capitalization of Rs 6,018.87 crores, the stocks of NIIT Learning Systems Limited started their trading session on Friday at Rs 461.50 and closed the session at Rs 444.35, slipping approximately 1.30 percent compared to the previous closing level of Rs 450.30 apiece.
As per the latest shareholding data available, “Massachusetts Institute of Technology”, one of the well-known foreign institutions, bought a fresh stake in NIIT Learning Systems Limited by subscribing to 77.42 lakh equity shares of the company equivalent to a 5.72 percent stake, Currently, the investment value of his holding stands at Rs 359 crores.
During the recent financial quarters, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, showed some positive movements with the former increasing from Rs 382 crores during Q2FY24 to Rs 391 crores during Q3FY24, and the latter, during the same period, rising from Rs 47 crores to Rs 57 crores.
JG Chemicals Limited
With a market capitalization of Rs 906.37 crores, the stocks of JG Chemicals Limited started their trading session on Friday at Rs 233.05 and closed the session at Rs 231.30, slipping approximately 0.80 percent compared to the previous closing level of Rs 233.05 apiece. The company’s stock was listed on the National Stock Exchange (NSE) in March’24.
As per the latest shareholding data available, “Massachusetts Institute of Technology”, one of the well-known foreign institutions, bought a fresh stake in JG Chemicals Limited by subscribing to 18.10 lakh equity shares of the company equivalent to a 4.62 percent stake, Currently, the investment value of his holding stands at Rs 46 crores.
During the recent financial years, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, witnessed a jump in numbers with the recent movement in the former from Rs 611 crores during FY22 to Rs 782 crores during FY23, and the latter, during the same period, rising from Rs 43 crores to Rs 57 crores.
Written by Amit Madnani
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