Share price of this small-cap stock moved up by nearly 10.01% on BSE to Rs. 453.75 in the morning trading session of Tuesday, compared to its previous close of Rs. 412.45, after India’s largest mutual fund bought stake in the company.
With a market capitalisation of Rs. 3,033.5 crores, at 11:03 a.m. the shares of Savita Oil Technologies Limited were trading in the green at Rs. 438.95, up by 6.26 percent.
The company has delivered positive returns of around 32.8 percent in the last six months, and nearly 85.2 percent in the last one year. So far, it has given around 25 percent of positive returns in 2024.
According to the large deal data available on the NSE, SBI Mutual Fund bought 20.73 lakh equity shares in Savita Oil Technologies, representing a 3% stake, on Friday at an average price of Rs. 408 per share, for a total transaction value of about Rs. 84.57 crore.
On the same day, Mehra Syndicate, one of the promoter entities, sold 20.73 lakh equity shares in the company at an average price of Rs. 408 apiece, on the same day.
In terms of financials, the company’s revenue from operations grew by 7.76 percent QoQ from Rs. 889 crore in Q2 FY23-24 to Rs. 958 crore for Q3 FY23-24, accompanied by the net profit growth of around 42.5 percent to Rs. 97 crore in Q3 FY23-24 from Rs. 47 crore in Q2 FY23-24.
As of December 2023, FIIs hold 1.41 percent of the shares, whereas DIIs hold 7.4 percent of the shares in the company, aggregating to 8.81 percent of the institutional holdings.
Founded in 1961, Savita Oil Technologies Limited is a leading manufacturer of petroleum specialty products engaged in manufacturing transformer oils, white oils etc.
Written by Shivani Singh
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