Narmada Gelatines Ltd: The promoter of the gelatin manufacturing firm Narmada Gelatins has sold a portion of his share in the business.
The company has been informing the stock market of the sale. In the announcement sent just before the closing of the market the company stated that one promoter had made a sale of over 1.6 lakh shares.
The share of the promoters and promoters group of the company is now down up to 75 percent. There was a drop in the stock price during Monday’s trading, and the stock is down around 2 percent.
What Information Has The Company Given?
The company announced in its information to the market that Pioneer Jellice India, one of the promoters of the business is selling 1,60,298 shares in the business.
This is equivalent to approximately 2.65 percent shares in the business. The promoter disposed of these shares between September 5 and 6.
The company also announced that, following the sale of shares the stake held by the promoter and promoter groups within the company has gone back to 75 percent which was previously 77.65 percent.
The company also stated that because of this, the company has met the requirement of a minimum public shareholding.
How Was The Performance Of The Stock?
On Monday the stock ended with a price of Rs 394.5 with a decrease in the range of 1.91 percent on BSE. The stock’s performance is not a surprise to investors.
The stock has dropped 17 percent in one year. In the same period, it has fallen 9 percent to date in 2024. However, in the last month, the company recorded a gain of around 2 percent.
In the previous four months, November 2023, September 2023, March 2024, and June 2024, the firm’s revenue has shown a decrease.
Quick Fact
| Company name | Narmada Gelatins |
|---|---|
| Promoter sold shares | 1,60,298 |
| Shares sold in Percentage(%) | 2.65% |
| Date of share sale | Promoter group shares after-sale |
| Promoter group share before sale | 77.65% |
| Promoter group shares after-sale | 75% |
| Compliance | Met public shareholding requirement |
| Stock price change on Monday | -1.91% |
| Stock price on Monday | ₹394.5 |
| Year-to-date stock drop | -9% |
| One-year stock drop | -17% |
| Promoter group shares after sale | +2% |
| Revenue performance in 4 months | Decreased |
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