Shares of this small-cap stock engaged in the business of household appliances slipped around 1 percent in Tuesday’s trading session after a couple of Mutual Funds bought shares of the company via a Block Deal.
With a market capitalization of Rs 12,620.01 crores, the stocks of V-Guard Industries Limited started their trading session on Tuesday at Rs 292.90 and closed at Rs 291, slipping approximately 1 percent as compared to the previous closing levels of Rs 294 apiece.
Such stock price movements are observed after equity shares of the company changed hands on 22nd December 2023.
As per the Block Deal window of the National Stock Exchange (NSE), Mr. Chittilappily Thomas Kochouseph, one of the existing Promoter Group members with 4.54 crore equity shares as of the September 2023 quarter, sold 45 lakh shares of V-Guard Industries Limited at an average trading price of Rs 286 per share.
On the other hand, two well-known Mutual Funds based in India, viz, Aditya Birla Sun Life Mutual Fund and Motilal Oswal Mutual Fund were the counterparties buying the shares at the same trade price. The former bought 35 lakh equity shares and the latter bought 10 lakh equity shares of the company.
During the recent financial quarters, the company’s prime indicators of business such as operating revenues and net profits saw a dip in numbers with the former marginally moving down from Rs 1,214.76 crores during Q1FY23-24 to Rs 1,133.75 crores during Q2FY23-24, and, the latter, during the same time horizon, fell from Rs 64.22 crores to Rs 58.95 crores.
As per the recent presentations, the company’s segmental profits showed an improvement in numbers and margins as far as the ‘Electronics’ and ‘Electricals’ segments are concerned.
The former rose 13.50 percent YoY, viz, from Rs 33.29 crores during Q2FY23 to Rs 37.80 crores during Q2FY24, and, the latter, during the same period, increased from Rs 22.84 crores to Rs 38.32 crores.
V-Guard Industries Limited is a consumer electrical company based in India with business segments comprising consumer durables, electricals, and electronics. Geographically, the company has operations within as well as outside India, of which the majority portion is earned from domestic business activities.
Written by Amit Madnani
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