The shares of the leading manufacturers of Precision cutting Tools gained up to 5 percent after Foreign institutional investors bought 30,00,000 equity shares in the company.
Forbes & Company Limited has a market capitalization of Rs 822.93 crore, the shares were trading at Rs 632.00 per share, increasing around 1 percent as compared to the previous closing price of Rs 625.85 apiece.
Reason For Rise:-
As of June 2024, India Discovery Fund Limited holds 11,48,255 equity shares which is equivalent to 8.90 percent in the Forbes & Company Limited, however, India Discovery Fund sold 5.79 lakh equity shares at an average price of Rs 604.90 apiece.
Moreover, Nexpact Limited and Bridge India Fund, Foreign institutional investors bought 15 lakh equity shares each at an average price of Rs 620 and Rs 626 apiece, respectively. Moreover Silver Stallion Limited bought 2.57 lakh equity shares at an average price of Rs 585 per share.
Financial performance:-
Examine the company’s financial condition, revenue zoomed by 214 percent from Rs 11.37 crore in Q1FY24 to Rs 35.79 crore in Q1FY25, and during the same time frame, net profit plummeted drastically by 51 percent from Rs 10.75 crore to Rs 5.28 crore.
Shareholding pattern:-
In the company’s recent shareholding pattern, the Promoters of the company own 73.85 percent while Retail shareholders own a 13.68 percent stake in the company, and Foreign Institutional Investors own an 11.51 percent stake.
Company Profile:-
Forbes & Company Limited manufactures precision engineering tools for industrial applications, printing, embossing (conventional and automated) marking machines, and development of real estate.
Written by:- Abhishek Singh
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