Share prices of both the small-cap stocks jumped after two different foreign investors bought stake in the companies.
One of the foreign investors is the Smallcap World Fund, a California-based venture capital firm that invests in the public equity markets across the globe. While the other Invesco Mutual Fund is a leading independent global investment management firm.
Following are the two companies that witnessed a rise in their share prices, a day after these foreign investors bought stake in the company on March 27th.
Aditya Vision Limited
With a market cap of Rs. 4,433.3 crore, at 11:32 a.m. the shares of Aditya Vision Limited were trading in the green at Rs. 3,457.7, up by nearly 2.84 percent.
In the last one year, the company has delivered about 123.5 percent of multibagger returns and nearly 53.8 percent in the last six months. However, so far in 2024, it has given negative returns of around 0.12 percent.
According to the bulk deal data available on the BSE, the US-based Smallcap World Fund bought around 2.73 lakh equity shares in Aditya Vision Limited, representing a 2.13 percent stake, at an average price of Rs. 3,400 apiece on Wednesday, amounting to Rs. 93 crores.
However, on the same day, promoters Rashi Vardhan and Sunita Sinha sold nearly 2.81 lakh equity shares, or 2.2 percent stake together, in the company worth Rs. 95.71 crore.
In terms of financials, the company’s revenue from operations grew by nearly 29.8 percent YoY from Rs. 318 crore in Q3 FY22-23 to Rs. 413 crore in Q3 FY23-24, accompanied by an increase in the net profit by 10 percent YoY, from Rs. 20 crore in Q3 FY22-23 to Rs. 22 crore in Q3 FY23-24.
Aditya Vision Limited is a modern multi-brand consumer electronics retail chain in Bihar and is the first & only consumer electronic retail company to be listed on the Bombay Stock Exchange (BSE).
Ethos Limited
With a market cap of Rs. 6,330.7 crore, the stock jumped by nearly 2.36% on BSE to Rs. 2,592 in the trading session of March 28th, from its previous close of Rs. 2,532.15.
In the last one year, the company has delivered about 169.4 percent of multibagger returns and nearly 46.7 percent in the last six months. So far in 2024, it has given positive returns of around 19.01 percent.
Invesco Mutual Fund purchased 3,07,350 equity shares, representing a 1.25 percent stake, in Ethos Limited at an average price of Rs 2,500.05 apiece via open market transactions, for worth Rs 76.84 crore.
However, promoter KDDL Limited sold 4.05 lakh shares, or a 1.6 percent stake, of the company at an average price of Rs 2,499.80 per share, valued at Rs. 101.24 crore.
The company’s revenue from operations grew by nearly 22.17 percent YoY from Rs. 230 crore in Q3 FY22-23 to Rs. 281 crore in Q3 FY23-24, accompanied by an increase in the net profit by 23.8 percent YoY, from Rs. 21 crore in Q3 FY22-23 to Rs. 26 crore in Q3 FY23-24.
Incorporated in 2007, Ethos Limited is the largest chain of luxury and premium watch retail players in India.
Written by Shivani Singh
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