Share price of this small-cap stock jumped over 7.34 percent on BSE at Rs. 182.7 in the morning trading session of Wednesday, from its previous closing price of Rs. 170.2, after the company board planned to hold a meeting to consider the approval of fundraising.
With a market capitalisation of Rs. 9,166.12 crores, at 11:53 a.m. the shares of Prism Johnson Limited were trading in the green at Rs. 182.05, up by nearly 6.71 percent.
In the last one year, the company has delivered positive returns of about 68.4 percent and nearly 37.8 percent of returns in the last six months. So far in 2024, it has given negative returns of around 1.1 percent.
According to recent regulatory filings with the stock exchanges, the Board of Directors of Prism Johnson Limited scheduled a meeting to be held on March 29th to consider and approve the raising of funds.
The fund will be raised by issue of Non-convertible Debentures on a private placement basis.
In terms of financials, the company’s revenue from operations fell by 5.98 percent from Rs. 1,838 crore in Q2 FY23-24 to Rs. 1,728 crore in Q3 FY23-24.
The net profit of the company also decreased by 106.01 percent from a profit of Rs. 183 crore in Q2 FY23-24 to a loss of Rs. 11 crore in Q3 FY23-24.
As of December 2023, FIIs hold 3.91 percent of the shares, whereas DIIs hold 5.1 percent of the shares in the company, aggregating to 9.01 percent of the institutional holdings.
Prism Johnson Limited is one of the leading integrated building material companies in India, offering a wide range of products including cement, ready-mixed concrete, tiles, bath fittings, sanitary ware and modular kitchens.
Written by Shivani Singh
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