{"id":117495,"date":"2024-01-17T13:39:12","date_gmt":"2024-01-17T08:09:12","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=117495"},"modified":"2024-01-17T14:18:40","modified_gmt":"2024-01-17T08:48:40","slug":"paint-stock-falls-after-smallcap-world-fund-sells-1-48-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/paint-stock-falls-after-smallcap-world-fund-sells-1-48-stake-in-the-company\/","title":{"rendered":"Paint stock falls after Smallcap World Fund sells 1.48% stake in the company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-929083029\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The share price of the paint manufacturing company fell by 1.2% to its intraday low of \u20b91,480 per share from its previous close of \u20b91,498.20 on Wednesday, after the foreign institutional investors sold and bought the company stake through the bulk deal.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3687152093\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to NSE bulk deal data, Morgan Stanley Asia Singapore PTE purchased 2.75 lakh or 0.58 percent of Indigo Paint Ltd shares for Rs 1,475 per share, totaling around Rs 40.56 crore.\u00a0<\/p><p>Smallcap World Fund sold 1.48 percent of its stake, or 7.05 lakh shares, for Rs 1475.32 per share. According to shareholding data, Smallcap World Fund held a 1.97 percent stake in Indigo Paints until December 2023.&nbsp;<\/p><p>Indigo Paints Ltd net revenue increased by 11% year on year, from \u20b9243 crore in Q2FY23 to \u20b9270 crore in Q2FY24. Their revenue increased by 2.5% sequentially from \u20b9277 crore in Q1FY24 to current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2567486547\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company&#8217;s net profit grew by 29% year on year, from \u20b937 crores in Q2FY23 to \u20b926 crores in Q2FY24. Their quarterly profit fell by 16% from \u20b926 crore in Q1FY24 to current levels.&nbsp;<\/p><p>Indigo Paints Ltd is a small-cap stock with a market capitalization of \u20b97,000 crores, the share price of the company rose by 17.5% in the last year.&nbsp;<\/p><p>The company has a low price-to-earnings ratio of 54 with a debt-to-equity ratio of zero, a return on equity of 18%, a return on capital employed of 21%, and a net profit margin of 12%.&nbsp;<\/p><p>The promoters own 54% of the company, with 9% owned by foreign institutional investors, 35.6% owned by the general public, and 1.68% owned by domestic institutional investors.&nbsp;<\/p><p>Indigo Paints Ltd is a paint manufacturing company. The Company manufactures and sells decorative paints, with manufacturing facilities in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu).&nbsp;<\/p><p><strong>Written by Sriram KV&nbsp;<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-2085246023\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1326312871\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The share price of the paint manufacturing company fell by 1.2% to its intraday low of \u20b91,480 per share from its previous close of \u20b91,498.20 on Wednesday, after the foreign institutional investors sold and bought the company stake through the bulk deal.&nbsp; According to NSE bulk deal data, Morgan Stanley Asia Singapore PTE purchased 2.75 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":101756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-117495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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