Share price of this small-cap stock moved up by nearly 7.02 percent on BSE to Rs. 472.5 in the morning trading session of Thursday, compared to its previous close of Rs. 441.5, after a large bulk deal via open market transactions worth Rs. 145.3 crore.
With a market capitalisation of Rs. 4,163.5 crores, at 10:49 a.m. the shares of Nirlon Limited were trading in the green at Rs. 462, up by 4.64 percent.
According to the bulk deal data available on the BSE, ICICI Prudential Mutual Fund purchased nearly 33.78 lakh equity shares in Nirlon Limited, representing 3.7 percent of total paid-up equity, valued at ~Rs. 145.3 crore at an average price of Rs. 430.
However, a foreign portfolio investor Albula Investment Fund Limited sold 30 lakh equity shares or a 3.3 percent stake in the company at the same price, amounting to Rs. 129 crore.
As of March 2024, the foreign investor held nearly 55.29 lakh equity shares (equivalent to a 6.14 percent stake) in Nirlon Limited.
In terms of financials, the company’s revenue from operations grew by 5.5 percent from Rs. 144 crore in Q3 FY22-23 to Rs. 152 crore in Q3 FY23-24. However, the net profit declined marginally by 3.7 percent from Rs. 54 crore in Q3 FY22-23 to Rs. 52 crore in Q3 FY23-24.
The return on capital employed (ROCE) increased by 7.05 percent from 23.18 percent in FY21-22 to 18.86 percent in FY22-23, while the return on equity (RoE) was 39.30 percent in FY22-23, up by 16.12 percent from 23.18 percent in FY21-22.
As of March 2024, FIIs hold 14.34 percent of the shares, whereas DIIs hold 0.01 percent of the shares in the company, aggregating to 14.35 percent of the institutional holdings.
In the last one year, the company has delivered positive returns of about 13.7 percent and nearly 11.8 percent in the last six months. So far in 2024, it has given positive returns of around 13.02 percent.
Incorporated in 1958, Nirlon Limited, previously known as Nirlon Synthetic Fibres & Che. Ltd., is a real estate company engaged in developing and managing Information Technology (IT) Parks, Industrial Park, and Knowledge Parks.
The company is in the business of development and management of the Industrial Park or Information Technology (IT) Park i.e. Nirlon Knowledge Park (NKP) situated in Goregaon, Mumbai.
Written by Shivani Singh
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