Last Updated: April 12, 2023, 12:07 IST
Shares of Venus Pipes and Tubes climbed to a 52-week excessive of Rs 833.80 within the early commerce on April 12 after Ace investor Ashish Kacholia purchased 4 lakh shares or 1.97 per cent stake within the firm at a median worth of Rs 750 per share.
Kacholia is understood for his means to choose small and mid-size firms. Other main shareholders embody veteran investor Madhulika Agarwal, who holds a 2.46 per cent stake within the firm.
Among the sellers, Nuvama Wealth Finance offloaded 1.38 lakh shares, or a 0.67 % stake, within the open market on April 11.
Two lakh shares of the corporate had exchanged arms within the first hour of commerce, as towards the one-month day by day traded common of 1 lakh shares.
The Gujarat-based chrome steel and pipe producer debuted on the exchanges in May 2022 and has emerged as a multibagger, giving returns of over 148 per cent.
The firm has maintained its working margin within the 12-13 per cent vary for the final 5 quarters. As for the quarter ending December, the corporate reported a internet revenue of Rs 11.3 crore on a income of Rs 136.4 crore.
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