Exicom Tele Systems(NSE: EXICOM) share fell by as much as 5 percent on Wednesday. The shares of the company climbed to Rs 362 at the beginning of trading, compared to the closing price on Tuesday of Rs 381.
There’s a major reason for this drop in shares. Indeed, just a few days before the Big Bull Jhunjhunwala’s RARE Enterprise reduced its stake in the company.
15.85 Lakh Shares Were Sold
According to the data available at the time of trading, Rakesh Jhunjhunwala’s business unit closed on a 1.3 percentage stake i.e. approximately 15.85 lakh shares of Exicom Tele Systems at an average price of 348.60.
The value of the stake sales was 55.25 crore. The 52-week highest price for the company’s shares is 530.40 and the lowest price for the 52-week is 170.25. The market capitalization of the company is Rs 4,373 crore.
IPO Took Place This Year
Exicom Tele, which operates in the electric vehicle (EV) charger market, made a fantastic debut on the stock market in March of this year. Exicom Tele’s share was listed at a price that was higher than eighty percent.
Exicom is a standout for being the first company to enter India’s electric vehicle charging industry. At the end of FY24, Exicom has seen significant advancements in the industry by putting up more than 65,000 charging stations in over 400 cities.
Exicom’s expansive network has helped it become a market leader in the field of residential chargers, claiming a 60% market share. It also holds 25% of the market for public chargers.
Additionally, government acceptance of EV adoption is also a good sign for Exicom and will improve its growth prospects.
Quick Fact
| Company name | Exicom Tele Systems |
|---|---|
| Share fall | 5% |
| Share start | ₹362 |
| Share end | ₹381 |
| Shares sold | 15,85,000 |
| Stake sold | 1.3% |
| Sold price | ₹348 |
| Sale value | ₹55,25,00,000 |
| IPO date | March 2024 |
| IPO performance | 80% higher |
| Market cap | ₹ 4,373 Cr. |
| 65,000 stations | Over 400 cities |
| Residential share | 60% |
| Public charger share | 25% |
| Possible growth reason | Govt. acceptance |
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