Shares of this multibagger Vijay Kedia stock traded in green after the Board of Directors of the company approved the divestment of stake in the Joint Venture (JV) company for a consideration of Rs 81.80 crores.
With a market capitalization of Rs 1,868.20 crores, the stocks of Talbros Automotive Components Limited closed at Rs 302.65 on Tuesday. The company’s scrip witnessed an intra-day high price of Rs 313 indicating a gain of around 3.60 percent compared to the previous closing levels of Rs 302.15 apiece.
In a recent regulatory filing with the Bombay Stock Exchange (BSE), the company intimated that the Board of Directors (BOD), in a meeting held on 22nd December 2023, approved to divest and sell its entire 40 percent stake in “Nippon Leakless Talbros Private Limited”.
The same is a Joint Venture company between Talbros Automotive Components Limited & Nippon Leakless Corporation and to be sold to Nippon Leakless Corporation and Leakless Gasket (India) Private Limited at a consideration of Rs. 81.80 crores.
The sale/disposal is expected to be completed by 31st January 2024 or such other extended date as may be mutually agreed between the parties.
Mr. Vijay Kedia, one of the well-known ace investors based in India, has invested in the shares of Talbros Automotive Components Limited. He took an entry into the company’s stock in December 2021 and, as per the shareholding pattern data available for the quarter ended September 2023, he holds 1.50 lakh shares equating to a 1.22 percent stake.
Apart from him, Mrs. Dolly Khanna, another India-based ace investor, holds around 1.93 lakh equity shares of Talbros Automotive Components Limited as of the September 2023 quarter equating to a 1.57 percent stake of the company.
Year-to-date, the company’s stock has delivered multibagger returns of approximately 170 percent to its stakeholders, viz, if someone had invested Rs 1 lakh in the company’s shares at the inception of this calendar year, it would have converted to Rs 2.70 lakhs.
During the recent financial quarters, the company has exhibited positive movements in the basic business indicators such as operating revenues and net profits.
The former moved up from Rs 182.83 crores during Q1FY23-24 to Rs 194.03 crores during Q2FY23-24, and, the latter, keeping the timeframe the same, shifted from Rs 13.97 crores to Rs 16.04 crores.
Talbros Automotive Components Limited is a company based in India that operates in the auto industry, including the manufacturing of auto components. Generating a majority of revenue from domestic operations within India, the company designs, develops, and manufactures heat shields, complete sealing, etc.
Written by Amit Madnani
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