During Thursday’s trading session, shares of this micro-cap company involved in the business of real estate development hit a 2 percent upper circuit on BSE, after one of its promoters increased stake in the company by 1.29 percent from 19.05 percent to 20.34 percent.
With a market cap of Rs. 255.6 crores, the shares of Swadeshi Polytex Limited hit a 2 percent upper circuit at Rs. 65.54 on BSE, as against its previous closing price of Rs. 64.26. The stock has delivered negative returns of more than 64 percent in one year, but has gained by around 9 percent in the last one month.
What’s the News
As per the latest regulatory filings with the BSE, Swadeshi Polytex Limited has announced that its promoter, Paharpur Cooling Towers Limited, which previously held a 19.05 percent equity stake in the company (equivalent to 74,31,204 shares), has acquired an additional 5 lakh equity shares. This acquisition has increased the promoter’s stake by 1.29 percent, bringing it to 20.34 percent or 79,31,204 shares. Previously, on 2nd June, Paharpur Cooling Towers Limited had acquired 2,49,157 equity shares, raising its stake by 0.63 percent, from 18.42 percent to 19.0 percent.
Swadeshi Polytex Limited is engaged in the business of transacting in, owning, purchasing, selling, leasing, subleasing, letting, sub-letting, renting and developing and other related activities of any type of real estate and to deal in real estate, land, immovable properties and other related assets.
Written by Shivani Singh
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