Dolly Khanna bought over 1 per cent stake & FIIs increased their holding in this multibagger small cap company!
The shares of the company have delivered multibagger returns of around 300 per cent in the past three years.
We are always in search of any company where any ace investor has either bought shares of a particular company or increased their stake. According to the latest quarterly update, ace investor Dolly Rajeev Khanna has entered with a stake of 1.03 per cent in this multibagger Small-Cap company.
Incorporated in 1985, Selan Exploration Technology Limited is a prominent player in the Oil & Gas exploration and production sector. With a robust operational framework, the company has established itself as a key contributor to India's energy landscape.
Shareholding Pattern:
As per the latest available data, the shareholding pattern of Selan Exploration Technology Limited depicts a balanced distribution, with promoters holding 30.46 per cent of the shares, followed by Foreign Institutional Investors (FIIs) at 3.83 per cent, and the public holding the majority stake of 65.71 per cent. However, Dolly Rajeev Khanna's stake in the company stands at 1.03 per cent, as per the recent quarterly update.
According to the Quarterly Result, the company's revenue jumped by 52% from Rs 28.66 crore to Rs 43.57 crore in Q3 FY24, and the company reported a net profit of Rs 6.03 crore during the same period.
Share Performance:
The stock of Selan Exploration opened the trading day at Rs 521.85, witnessing an intraday high of Rs 523 and a low of Rs 508.70 on the BSE. Ultimately, the shares closed at Rs 512.70 per share.
At present, the market capitalisation of Selan Exploration stands at approximately Rs 779 crore, indicating the company's significant presence in the industry. Moreover, the stock has demonstrated impressive performance over the years, delivering over 90 per cent returns in the past year and a multibagger returns of around 300 per cent in the preceding three years.
Dolly Khanna, known for her astute investment decisions, has garnered attention for her strategic bet on Selan Exploration Technology Limited. Her investment is often perceived as a vote of confidence in the company's fundamentals and growth prospects. The acquisition of over 1 per cent stake by Dolly Khanna not only underscores her belief in Selan Exploration but also serves as a catalyst for heightened investor interest in the stock. Analysts anticipate that her entry into the company's shareholder base could potentially unlock value and drive further appreciation in the stock price.
Investors must keep this multibagger small cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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