Ashish Kacholia sells 1,80,489 shares of this auto company; Stock to watch on August 21
The stock is up by 10 per cent in 1 month, 32 per cent in 3 months and over 50 per cent in 6 months.
On Friday, the benchmark indices ended the day in red. BSE Sensex Index is down by 0.31 per at 64,948.66 and NSE Nifty-50 Index is down by 0.28 per cent at 19,310.15. About 1,484 shares have advanced, 2,132 have declined and 132 were unchanged on BSE.
An ace investor, Ashish Kacholia sold 0.6 per cent or 1,80,489 shares of this auto company at Rs 640 per share on Friday, August 18, 2023, on NSE aggregating to Rs 11,55,12,960 or approx. Rs 11.55 crore. Before divesting, he possessed a 4.34 per cent ownership in the company, but following the sale of a 0.6 per cent stake, his current ownership in the company stands at 3.74 per cent.
Kacholia's decision to sell his part shares has raised concerns among investors about the company's future. Could this be a signal that the stock has reached an overhyped valuation, and its merry run might be coming to an end?
The shares of the company ended Friday’s trading session in the green, up 0.76 per cent to Rs 639.60 per share from its previous closing of Rs 634.80. The stock traded at an intraday high of Rs 645.50 and an intraday low of Rs 633.95. The shares of the company also saw a spurt in volume by more than 2.46 times on BSE.
The stock name is S.J.S. Enterprises Ltd.
SJS Enterprises Ltd (SJS) is one of the leading players in the Indian decorative aesthetics industry in terms of revenue. It offers a design-to-delivery aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries.
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The stock is currently trading at a PE of 32.5 whereas the industry PE is 29.8 and an ROE of 15.2 per cent & a ROCE of 20 per cent. The EPS is Rs 19.7 per share. The stock is up by 10 per cent in 1 month, 32 per cent in 3 months and over 50 per cent in 6 months.
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Disclaimer: The article is for informational purposes only and not investment advice.