FIIs bought 19,85,781 shares worth Rs 556 crore in this consumer durables stock; scrip jumps over 4 per cent!

The stock has delivered strong returns over the past 5 years, with a multibagger return of over 200 per cent.

On Monday, the benchmark indices ended the day in the green. BSE Sensex Index is up by 0.17 per cent at a level of 64,996.60 and NSE Nifty-50 Index is up by 0.21 per cent at a level of 19,306.05.

While the overall market is trading higher today, one consumer durables stock is bucking the trend and trading in the green. Let us know why this stock is trending:

On August 25, 2023, Foreign Institutional Investors (FIIs) bought a total of 19,85,781 shares of a household appliances company at Rs 2,800 per share in a bulk deal, amounting to Rs 5,56,01,86,800 or approximately Rs 556 crore. Details below:

FIIs including GOVERNMENT OF SINGAPORE bought 14,50,478 shares; NORDEA 1 SICAV bought 67,655 shares; MANULIFE GLOBAL FUND INDIA EQUITY FUND bought 79,182 shares; MONETORY AUTHORITY OF SINGAPORE bought 1,48,163 shares; WTCNAMC ASIAN OPPORTUNITIES PORTFOLIO bought 1,51,001 shares; THE INCUBATION FUND LIMITED bought 274 shares; WELLINGTON MGT CO LLP A/C WELL MGT PORTFOLIO (LUX) ASIAN CONSUMPTION PORTF bought 88,511 shares and WMF IRELAND PLC WELLINGTON ASIA EX JAPAN EQUITY FUND bought 517 shares.

The consumer durables stock is AMBER ENTERPRISES INDIA LTD.

Amber Enterprises India Limited manufactures heating and ventilation equipment. The company offers refrigerators, heat exchangers, air conditioners, home appliances, vacuum forming, and lighting products. Amber Enterprises also produces auto parts, injection moulding, and sheet metal components. Amber Enterprises serves clients in India.

Today, shares of the company surged 4.85 per cent to an intraday high of Rs 2,918 per share from its previous closing of Rs 2,783.30. At the closing bell, shares of the company were trading at Rs 2,896.55 per share, up 4.07 per cent with a spurt in volume by more than 5.34 times on BSE.

The company has a market cap of over Rs 9,700 crore a 5-year stock price CAGR of 25 per cent. According to the Quarterly Results, the net sales decreased by 6.79 per cent to Rs 1,702 crore, operating profit increased by 33.33 per cent to Rs 132 crore and net profit increased by 9.30 per cent to Rs 47 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 64.69 per cent to Rs 6,927 crore and net profit increased by 47.74 per cent to Rs 164 crore compared to FY22.

The stock has delivered strong returns over the past 5 years, with a multibagger return of over 200 per cent. In the past 6 months, the stock has gained 55 per cent, and in the past year, it has gained 28 per cent. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.