The shares of Microcap Finance Company that provides financial advisory and consultancy services hit 5 percent upper circuit on Tuesday’s trade after the promoter increased stake in the company.
Promoters usually increase their stake in a company to demonstrate their confidence in the company’s future growth potential, signifying a strong belief in the business’s long-term prospects.
Share Price Movement
The shares of Almondz Global Securities Limited, with a total market capitalization of Rs 384.53 Crores on Tuesday, reached an Intraday high of Rs 24.62 per share, hitting a 5 percent upper circuit. As of noon, the shares retreated and were trading at Rs 22.87 per share which was 2.5 percent lower than the previous closing price of Rs 23.45 per share.
The shares of Almondz Global Securities Ltd, generated returns of 17 percent in the past year, 38 percent returns in the past three years, and an impressive return of 721 percent in the past five years.
What Happened
On February 20, 2025, Almondz Global Securities Ltd announced that Avonmore Capital & Management Services Ltd, promoter of Almondz Global Securities Ltd, had purchased 50,000 equity shares from the open market. This increased the promoter’s stake in the company from 50.06 percent to 50.09 percent, with the acquisition taking place on February 18, 2025.
On February 21, 2025, the company further disclosed that Avonmore Capital & Management Services Ltd had acquired an additional 55,000 shares, bringing its total ownership to 50.12 percent as of February 19, 2025.
On February 24, 2025, the company further informed that Avonmore Capital & Management Services Ltd had acquired another 46,000 shares, bringing its total ownership to 50.18 percent, with the acquisition taking place on February 21, 2025.
Also read: Pharma stock jumps 5% after announcing and setting record date for dividend
Financials
The Company’s Revenue from Operations saw a YoY growth of 10.3 percent from Rs 30.13 Crores in Q3FY24 to Rs 33.23 Crores in Q3FY25. Their Net Profits however declined by 44.7 percent from Rs 19.84 Crores to Rs 2.43 Crores over the same period.
About Almondz Global Securities Ltd
Almondz Global Securities Ltd is a financial services provider with five segments: Debt and Equity market operations, Consultancy and Advisory, Wealth Advisory/Broking, Finance, and Healthcare. The company offers professional advisory in equity and debt markets, private equity, infrastructure, equity broking, wealth management, debt portfolio management, and distribution.
Written By Adhvaitha Nayani
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