Synopsis:
Negen Capital bought 61.6 lakh Jayaswal Neco shares (0.63 percent stake) via NSE for Rs. 29.5 crore at an average price of Rs. 47.88, as per latest bulk deal data.
During Wednesday’s trading session, shares of a company engaged in the manufacturing of iron and steel casting moved up by nearly 9 percent on BSE, after a Portfolio Management Services (PMS) company bought stake in the company worth more than Rs. 29 crores.
At 10:18 a.m., the shares of Jayaswal Neco Industries Limited were trading in the green at Rs. 53.07 on BSE, up by around 7 percent, as against its previous closing price of Rs. 49.62, with a market cap of Rs. 5,155 crores. The stock has delivered positive returns of more than 12 percent in the last one year, and has gained by nearly 40 percent in the last one month.
What’s the News
According to the latest bulk deal data, a Mumbai-based Portfolio Management Services (PMS) company, Negen Capital Services Private Limited, bought around 61.6 lakh equity shares of Jayaswal Neco Industries Limited, representing a 0.63 percent stake via NSE. The transaction was valued at around Rs. 29.5 crores, with the shares bought at an average price of Rs. 47.88 per share.
Financials & more
Jayaswal Neco Industries reported a significant growth in its revenue from operations, showing a year-on-year increase of around 15 percent from Rs. 1,438 crores in Q1 FY25 to Rs. 1,649 crores in Q1 FY26. Similarly, the company turned its net losses of Rs. 32 crores into a net profit of Rs. 93 crores over the same period.
Jayaswal Neco Industries Limited has manufacturing facilities located in Chhattisgarh and Maharashtra and is primarily engaged in the business of manufacturing and supplying pig iron, sponge iron, pellets, steel and iron & steel castings.
Written by Shivani Singh
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