This FMCG stock fell by 1% in the market today after Lighthouse Advisors India sold 1.3% stake in the company in a bulk deal which was bought by Plutus Wealth Management LLP for 0.5%.
Share price of Bikaji Foods opened at Rs. 512.35 per piece and lost nearly 1% to reach its intra- day low of Rs. 507 levels. The stock has grown by 40.12% in the last six months. It has also given a consistent return of 61.4% in the last five years.
According to BSE, On 8 September 2023, Lighthouse India Fund III, Limited sold a 1.3%, 32.42 lakhs each of face value of Rs.10 for Rs. 480 apiece. The aggregated amount stands at Rs. 156 crore. On the same day, Plutus Wealth Management LLP bought 0.5%, 13.5 lakhs each of face value of Rs.10 for Rs. 480.11 per piece amounting to Rs. 64 crore.
The company has a market capitalisation of Rs. 12,793 crore. Comparing its financial performance on a QoQ basis, the company has recorded an increase in revenue from operations for 4.3% from Rs. 45,822.54 crore in Q4FY23 to Rs. 47,739.83 crore in Q1FY24. Its profit for the period rose another 21% from Rs. 3,672.54 crore in Q4FY23 to Rs. 4,473.03 crore in Q1FY24. It maintains a low debt to equity ratio of 0.15.
Bikaji Foods International Limited is an Indian multinational company incorporated in 1986. The company manufactures and sells Indian snacks in the domestic part and also exports it to several countries. Almost two decades ago, Bikaji Foods merged with many of its arms and restructured into one umbrella entity.
Written by Bhumika Khandelwal
