Ashish Kacholia buys 8.54% stake in Universal Autofoundry; stock hits upper circuit
The market capitalisation of the company was Rs 281.07 crore. With todays rally, the scrip extended its gaining streak into its fifth straight session. It has jumped over 48 per cent during the window.
Shares of Universal Autofoundry, an auto components and equipment company, hit their upper circuit limit of Rs 232.05 apiece for the second straight session on the BSE on Friday. The buying interest in the stock came after ace investor Ashish Rameshchandra Kacholia bought 10,34,353 shares, or 8.54 per cent of the company, at Rs 161.59 apiece.
The market capitalisation of the company was Rs 281.07 crore. With today's rally, the scrip extended its gaining streak into its fifth straight session. It has jumped over 48 per cent during the window.
As per the BSE bulk deal data, after Ashish Kacholia bought a stake, Himalaya Finance & Investment Company bought 10,34,353 (8.54 per cent) at Rs 168.49 per share.
As per Trendlyne's corporate shareholdings filed for June 30, 2023, Ashish Kacholia publicly holds 41 stocks with a net worth of over Rs 2,473.6 crore.
On the other hand, promoters and promoter groups of Universal Autofoundry sold stakes in the company. Payal Gupta sold 9.85 lakh shares at an average price of Rs 160 per share; Amit Gupta sold 7.71 lakh shares at an average price of Rs 160 per share; Kishnan Lal Gupta offloaded 1.77 lakh shares at an average price of Rs 193.4 per share; and Urmila Gupta sold 1.17 lakh shares in the company at an average price of Rs 193.4 per share.
Universal Autofoundry Q1 results
The company logged a profit after tax (PAT) of Rs 3.56 crore for the June quarter against Rs 3.35 crore logged a year ago, up 6.3 per cent. The revenue from operations stood at Rs 57.56 crore against Rs 61.17 crore registered in the year-ago period, down 5.9 per cent.
Universal Autofoundry shares: Past performance
Universal Autofoundry's stock has gained over 124 per cent and outperformed the headline index's rise of more than six per cent in 2023 so far. In a year, the stock has surged over 119 per cent against the Nifty's rise of over 10 per cent.
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.