Promoter Shares means the Equity Shares of the Company held by Promoters, together with any rights and/or bonus.
Increasing a promoter’s stake depicts that the group of people who founded or have a substantial interest in a firm is purchasing additional shares in the company. It is a good indicator since it demonstrates that the promoters are optimistic about the company’s future prospects.
Three small-cap stocks where promoter shareholding increased up to 14.8% in Q1FY24 compared to Q1FY23.
Beekay Steel Industries Ltd
Beekay Steel produces thermomechanical treatment (TMT) bars, hot rolled sections, bright bars, structurals, and machined bars.
Beekay Steel Industries is a small-cap company with a market capitalization of Rs 1,077 crore. On Wednesday, the company’s shares were trading at Rs 565.05 per share, down 0.47 percent from the previous close price.
The promoter’s stake in the company has increased by 2.35 percent, from 69.15 percent in Q4FY22-23 to 71.5 percent in Q1 FY 23-24. Retail investors owned 28.49 percent of the company as of the June quarter of fiscal year 23-24.
The company’s revenue declined by 13 percent year on year to 1,128 crores in FY 22-23 from the previous year, while net profit decreased by 33 percent to Rs 104 crore and the company has a debt-to-equity ratio of 0.3.
Jagatjit Industries Ltd
Jagatjit Industries Limited, one of the country’s largest Indian-made foreign liquor(IMFL) producers, produces a wide range of alcoholic drinks, including Whisky, Rum, Gin, and Vodka.
Jagatjit Industries is a small-cap company with a market capitalization of Rs 696 crore and company shares were trading at Rs 150 a share on Wednesday, up 0.98 percent from the previous close price.
Promoter holding has increased in the company by 13.9 percent,i.e., from 74.13 percent in Q4FY 22-23 to 88.03 percent in Q1 FY 23-24. As of the June quarter of FY 23-24, the retail investors own 11.95 percent of the firm.
The company’s revenue climbed by 13 percent year on year to 505 crore in FY 22-23 from the previous year, while net profit increased by 1300 percent to Rs 7 crore. The company has a debt-to-equity ratio of 3.41.
Expleo Solutions Ltd.
Expleo Solutions Ltd provides software testing services as well as software validation and verification services to the global BFSI market.
Expleo Solutions is a small-cap company with a market capitalization of Rs 2,660 crore. On Wednesday, its shares were trading at Rs 1,714.30 a share, a 0.86 percent decrease from the previous close price.
Expleo Solutions Ltd’s promoter shareholding in the firm has grown by 14.88 percent, from 56.17 percent in Q4FY22-23 to 71.05 percent in Q1 FY 23-24. Retail investors owned 25.87 percent of the company as of the June quarter of fiscal year 23-24.
The company’s revenue climbed by 120 percent year on year to 903 crore in FY 22-23 from the previous year, while net profit increased by 150 percent to Rs 133 crore. The company has zero debt-to-equity ratio.
Written By Omkar Chitnis
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