Shares of this small-cap stock hit the 5 percent upper circuit after Morgan Stanley Asia buys a Stake in the company. In the last one-month period, the company’s scrip has gained nearly 19 percent from Rs 729.70 to the current price level.
Related Articles
With a market capitalization of Rs 1,152.67 crores, the stocks of Repro India Limited started their trading session at Rs 848.10 and currently are locked in the 5 percent upper circuit at a price of Rs 870.
One of the prime factors leading to a surge in the company’s stock price is pertaining to various reports mentioning “Morgan Stanley Asia (Singapore) Pte “ buying a stake in the company.
The reports further say that the entity bought around 1.65 lakh shares, i.e., a 1.24 percent stake of the paid-up equity capital of Repro India Limited at an average price of Rs 800 per equity share.
Multiple ace investors including Mr. Vijay Kedia and Mr. Ahish Kacholia owns a stake in the printing & publishing solutions provider with the former holding 9,06,491 equity shares (6.84 percent stake), and, the latter holding 4,60,528 equity shares (3.48 percent stake).
According to the shareholding pattern data available for the June 2023 quarter, the company’s Promoters hold a 50.58 percent stake, and the Foreign Institutional Investors (FIIs) hold a 6.33 percent stake in the company.
Repro India Limited is engaged in the business of providing print, content, as well as fulfillment solutions. It prints magazines and other periodicals, maps, books & brochures, posters, and many more. Geographically, the company derives most of its revenue from domestic operations within India.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Vijay Kedia stock hits 5% upper circuit after FII buys stake in the company; Check the details appeared first on Trade Brains.
