On Thursday, the share price of the small-cap company rose by 7.4% to its intraday high of ₹461.4 per share from its previous close of ₹429.40 after 2.2% company share sold by FII in the open market.
According to the exchange filing, Pabrai Investment Funds, a foreign institutional investor, sold 32.6 lakh equity shares, representing 2.2% of Sunteck Realty, in the open market.
Pabarai Investment Fund’s shareholding decreased from 6.5% to 4.3%, or from 96 lakh equity shares to 63 lakh equity shares, as a result of the share sale.
In the December quarter, the company’s net revenue fell by 52% YoY from ₹89.33 crores to ₹42.45 crores, and in QoQ, their net revenue increased by 70% from ₹24.94 crores.
Net profit of their company fell by 570% from a net profit of ₹2.07 to a net loss of ₹9.73 crores in a quarterly basis their net loss was reduced by 30% from a net loss of ₹13.94 crores.
The company has a low debt-to-equity ratio of 0.23 and a dividend payout ratio of 543%, but its return on equity, return on capital employed, and net profit margin are all low.
Sunteck Realty Ltd is a small-cap company with a market capitalization of ₹6,400 crores. The company’s share price has risen 20% in the last six months and 21% in the previous year.
The company’s promoter owns 67.22% of the stock, the general public owns 9.13%, foreign institutional investors own 16.67%, and domestic institutional investors own 6.98%.
Sunteck Realty Limited is a Mumbai-based real estate developer that specializes in the development of premium residential and commercial properties throughout the Mumbai Metropolitan Region (MMR).
Written by Sriram KV
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