In Friday’s morning trading session, the shares of a tech-enabled B2B marketplace focussed on construction materials hit a 2 percent upper circuit on BSE to Rs. 449.85, after the ace investor Ashish Kacholia bought stake in the company worth Rs. 40.04 crore.
With a market cap of Rs. 5,017.6 crore, the shares of SG Mart Limited opened at Rs. 449.85, compared to its previous closing price of Rs. 441.05.
What’s the news:
According to the 27th June bulk deal data available with the BSE, the renowned investor Ashish Rameshchandra Kacholia purchased 9.1 lakh equity shares of SG Mart valued at Rs. 40.04 crore. Additionally, SG Logistic Management Private Limited bought 25 lakh shares worth Rs. 110 crore, both transactions executed at an average price of Rs. 440 per share.
However, Meenakshi Gupta and Dhruv Gupta, the promoters of SG Mart, collectively sold nearly 60.75 lakh equity shares in the price range of Rs. 440-442.28 per share, representing a 5.4 percent stake in the company. The total value of this transaction amounted to Rs. 268.14 crore.
As of March 2024, the promoters held a combined 52.69 percent stake in SG Mart. Following this recent sale, their shareholding has reduced to 47.25 percent.
Financial & Stock Performance:
In terms of financials, the net revenue stood at Rs. 1,277.5 crore in Q4 FY23-24, rising by 70.7 percent QoQ from Rs. 748.3 crore in Q3 FY23-24, while the net profit grew by 95.3 percent to Rs. 33.6 crore from Rs. 17.2 crore, during the same period.
The stock has delivered multibagger returns of nearly 355 percent in one year, but 5.4 percent of negative returns year-to-date.
As per the shareholding pattern of March 2024, the Promoters hold a 52.69 percent stake in the company, Foreign Institutional Investors (FII) hold a 3.65 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 43.11 percent and 0.54 percent stake in SG Mart, respectively.
About the company:
SG Mart Limited, formerly known as Kintech Renewables Limited, is engaged in the business of trading of building material products and offers TMT bars, tiles, welding rods, binding wires, sanitary ware, and lighting and fitting products.
Written by Shivani Singh
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