Enam’s Akash Bhanshali bought 6,29,570 shares of a micro-cap stock; the stock trades below its book value and hits a fresh 52-week high!
The stock has a promoter holding of 67.7 per cent, and its book value is Rs 283. Currently, the stock is trading below its book value.
Friday is unfolding as an exceptional trading session for the Indian benchmark indices, with Nifty 50 achieving a new all-time high of 21,848.20, surpassing its previous record of 21,834.35 set on January 1, 2024.
Regarding sectoral performance, a majority of the sectors are in the green, led by Nifty IT, which has surged nearly 5 per cent, followed by Nifty PSU Bank, up by 2.75 per cent. The broader market indices are witnessing buying interest but are relatively underperforming compared to the frontline indices.
Amidst this buoyancy, one stock that has reached a fresh 52-week high, trading higher by 1.4 per cent, is GeeCee Ventures Ltd. The company is engaged in Real Estate, Investing and Finance, and Wind Power Generation. The Wind Power Division of GeeCee Ventures Limited commenced operations in 2010 by establishing 5.35 MW Wind Turbine Generators in Jodhpur District, Rajasthan. The power generated from these wind turbines is entirely supplied to the power-deficit state of Rajasthan. Regarding Real Estate, the re-development project at "Laxmi Kunj," located in Juhu, is progressing as per schedule and is targeted to be completed by December 31, 2024.
Now, the most intriguing development about this micro-cap stock is that well-known investor Mr. Akash Bhanshali, the principal owner at Enam Holding Pvt. Ltd, has acquired 6,29,570 shares of the company, as per the December 2023 quarter shareholding pattern. The stock has delivered handsome returns of 66.97 per cent in the last year, and it is up by nearly 13.5 per cent in the last month.
The stock has a promoter holding of 67.7 per cent, and its book value is Rs 283. Currently, the stock is trading below its book value.
Disclaimer: The article is for informational purposes only and not investment advice.
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