Mukul Agrawal Bought 4,00,000 Shares of This Small-Cap Company: Will It Be the Next Page Industries? Promoters Hold 74 per cent Stake
Interestingly, promoters hold a significant 74.19 per cent stake in the company. The stock has appreciated by 40.82 per cent in 2024
The NSE benchmark Nifty50 index reached a fresh all-time high of 24,592.20, propelled by IT stocks following TCS' Q1 earnings meeting expectations. The index closed above the 24,500 level for the first time, making Friday's session a historic day for the market.
Parallel to this, another historic moment unfolded for a Small-Cap stock—Lux Industries. The stock surged to a fresh 52-week high of Rs 1,899.90 on Friday. The shareholding pattern for the quarter ending June 2024 revealed a fascinating development: ace investor Mukul Agrawal had acquired a 1.33 per cent stake, translating to 400,000 shares.
Incorporated in 1995, Lux Industries commands a 15 per cent market share in the organized industry and stands as the largest mid-segment hosiery enterprise in India. The company manufactures and markets innerwear, thermals, and casuals under various brands, with 'LUX' being its flagship brand.
Interestingly, promoters hold a significant 74.19 per cent stake in the company. The stock has appreciated by 40.82 per cent in 2024, and over the last three months, it has risen by 55.40 per cent. This substantial growth begs the question: will Lux Industries mirror the success of Page Industries?
Several factors could be driving Mukul Agrawal's investment. Lux Industries boasts a strong brand recall, an increased focus on modern trade and e-commerce, and is India’s number one innerwear company in volume terms. With a robust network of over 200,000 retailers across India, the company's growth trajectory looks promising.
Disclaimer: The article is for informational purposes only and not investment advice.