March 2024 results have begun and companies have also started to report their latest quarter’s shareholding pattern data.
The Indian Benchmark Indices, viz, Sensex and Nifty50, are trading in the red on Friday with the former slipping 0.30 percent and currently standing at 72,270.76 and the latter slipping 0.30 percent and currently standing at 21,927.15.
Listed below are three stocks under Rs 200 in which Mutual Funds decreased their stake by up to 3.70 percent as of the March 2024 quarter:
City Union Bank Limited
With a market capitalization of Rs 11,269.32 crores, the stocks of City Union Bank Limited started their trading session on Friday at Rs 149.30 and currently trade at Rs 152.25, slipping approximately 0.50 percent compared to the previous closing levels of Rs 152.90 apiece.
The latest shareholding pattern data of the Bank, as per the quarter ended March 2024, portrays the Mutual Funds buying a fresh stake in the company by around 2.8 percent, viz, from 27.33 percent holding during the December 2023 quarter to 24.53 percent holding during the quarter ended March 2024.
Having a glance at the latest financials, the Bank’s basic parameters of business, i.e., its total income as well as after-tax profits, reported a jump in opposing directions with the former, on one end, moving up from Rs 1,304 crores during Q2FY24 to Rs 1,326 crores during Q3FY24, and the latter, on the other end, shifting down from Rs 281 crores to Rs 253 crores.
Jamna Auto Industries Limited
With a market capitalization of Rs 5,162.30 crores, the stocks of Jamna Auto Industries Limited started their trading session on Friday at Rs 127.75 and currently trade at Rs 129.20, slipping approximately 1.30 percent compared to the previous closing levels of Rs 130.85 apiece.
The latest shareholding pattern data of the company, as per the quarter ended March 2024, portrays the Mutual Funds increasing their stake in the company by around 3.51 percent, viz, from 10.27 percent holding during the December 2023 quarter to 6.76 percent holding during the quarter ended March 2024.
Having a glance at the latest financials, the company’s basic parameters of business, i.e., its operating revenues as well as after-tax profits, reported a jump in opposing directions with the former, on one end, moving down from Rs 607 crores during Q2FY24 to Rs 604 crores during Q3FY24, and the latter, on the other end, shifting up from Rs 50 crores to Rs 55 crores.
GHCL Textiles Limited
With a market capitalization of Rs 778.55 crores, the stocks of GHCL Textiles Limited Limited started their trading session on Friday at Rs 81.10 and currently trade at Rs 81.45, slipping approximately 0.30 percent compared to the previous closing levels of Rs 81.70 apiece.
The latest shareholding pattern data of the company, as per the quarter ended March 2024, portrays the Mutual Funds decreasing their stake in the company by around 3.64 percent, viz, from 8.09 percent holding during the December 2023 quarter to 4.45 percent holding during the quarter ended March 2024.
Having a glance at the latest financials, the company’s basic parameters of business, i.e., its operating revenues as well as after-tax profits, reported underperforming numbers with the former moving down from Rs 260.03 crores during Q2FY24 to Rs 244.41 crores during Q3FY24 and the latter taking a dip from Rs 6.15 crores to Rs 4.49 crores.
Written by Amit Madnani
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