VIP flies high on Jhunjhunwala???s rising interest
Billionaire investor Rakesh Jhunjhunwala, on Monday, acquired 375,000 shares of VIP Industries representing 1.3% equity stake. Following this acquisition, his stake in the company has increased to 5.8132% of the total issued and paid up capital.
VIP Industries is currently trading at Rs 308.50, up by 11.00 points or 3.70% from its previous closing of Rs 297.50 on the BSE.
The scrip opened at Rs. 310.00 and has touched a high and low of Rs 312.40 and Rs 301.25 respectively. So far 247000 shares were traded on the counter.
The BSE group ‘S’ stock of face value Rs 10 has touched a 52 week high of Rs 312.40 on 21-Jun-2010 and a 52 week low of Rs 41.30 on 13-Jul-2009.
Last one week high and low of the scrip stood at Rs 312.40 and Rs 253.20 respectively. The current market cap of the company is Rs. 840.84 crore.
The promoters holding in the company stood at 43.59% while Institutions and Non-Institutions held 7.67% and 48.74% respectively.
The revenue of the company zoomed by 12.88% to Rs 139.10 crore for the quarter ended March 2010 as compared to Rs 123.23 crore during the corresponding quarter last year. The company almost doubled its sales to Rs 11 crore from Rs 5.46 crore in the quarter ended March 2010.Operating Profit margin saw a handsome growth to 14.74% from 10.53% in the quarter ended March 2010.
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