Kacholia sold 1,80,489 shares of the company, or 0.6% stake, at Rs 640.01 apiece, bulk deals data on the National Stock Exchange showed. He sold the shares at a premium of around 1% to Thursday’s closing price of the stock.
On Friday, shares of SJS Enterprises ended around 1% higher on the NSE at Rs 639.65. As of June-end, Kacholia held a 4.34% stake in the company, which made its debut on the bourses in November 2021.
So far in 2023, shares of the company have given nearly 30% returns to investors. The stock hit an all-time high of Rs 677.95 on August 1.
The company manufactures a wide range of aesthetics products catering to two-wheelers, passenger vehicles, commercial vehicles, consumer durables/appliances, medical devices, farm equipment and sanitary ware industries.
For the quarter ended June, the company reported a 14% year-on-year growth in consolidated revenue to Rs 117 crore, and 11% increase in net profit to Rs 18 crore.
Apart from Kacholia, the company counts a few leading domestic mutual funds and global funds among its top investors.Mutual funds cumulatively held 9.15% stake in the company as of June-end, and the key holders are Aditya Birla Sun Life, Franklin Templeton, and Axis Mutual Fund. However, the cumulative holding of MFs was down from 9.92% as of March-end.
Foreign portfolio investors held 5.2% stake in SJS Enterprises, with Goldman Sachs owning a 3.5% stake. The cumulative FPI holding too, reduced from 5.6% in the March quarter.
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