Shares of this small-cap stock under the ‘Healthcare’ sector slipped approximately 1.20 percent in Monday’s trading session after a well-known Domestic Mutual Fund offloaded a stake in the company via a Bulk Deal. In the last six months, the company’s stock gained nearly 35 percent for its holders.
With a market capitalization of Rs 6,729.23 crores, the stocks of Vijaya Diagnostic Centre Limited opened their trading hour on Monday at Rs 665.20 and closed the session at Rs 657.50, slipping around 1.20 percent compared to the previous closing levels of Rs 664.90 apiece.
Such bearish movements in the company’s share price were observed after “Canara Robeco Mutual Fund – Canara Robeco Small-Cap Fund”, a well-known Domestic Mutual Fund, offloaded its stake in Vijaya Diagnostic Centre Limited.
According to the Bulk Deal data available with the National Stock Exchange (NSE) as of 5th April 2024, the Mutual Fund sold 6.92 lakh equity shares of the healthcare company at an average trading price of Rs 664 per share.
As per the latest shareholding pattern data, Canara Robeco Small-Cap Fund held approximately 13.96 lakh equity shares equivalent to a 1.36 percent stake in the company.
During the recent financial quarters, the company’s prime business indicators, viz, its operating revenues as well as after-tax profits, showed a decrease in numbers with the former slipping from Rs 139 crores during Q2FY24 to Rs 133 crores during Q3FY24, and the latter, during the same time horizon, taking a downward shift from Rs 34 crores to Rs 26 crores.
The company’s ratio analysis, on a contrasting note, represents the return ratios reported at decent numbers during FY22-23 with the return on equity (RoE) at 15.53 percent and the return on capital employed (RoCE) at 17.07 percent.
Vijaya Diagnostic Centre Limited is an India-based company that operates a chain of diagnostic centres in the southern part of India. The company provides routine/basic tests, specialized pathology tests, and advanced radiology tests. It also offers a wide range of customized wellness and health packages to its customers.
Written by Amit Madnani
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