Aditya Birla Sun Life MF trims stake in this Agrochemical Stock; Check the details 

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Aditya Birla Sun Life MF trims stake in this Agrochemical Stock; Check the details 

The shares of Bayer CropScience (NS: BAYE ) Limited are trading flat today opening their trading session at Rs 4,297 and currently available for Rs 4,318. In the last one month, the stock has surged around 5 percent from Rs 4,116.35 in May end to the current price levels.

In a recent filing with the Bombay Stock Exchange (BSE) dated 22nd June 2023, the company informed that Aditya Birla Sun Life Mutual Fund (MF) sold a 2.03 percent stake in Bayer (ETR: BAYGN ) CropScience. The MF trimmed its stake from 5.01 percent pre-disposal to 2.98 percent after the disposal.

They sold 9.14 Lakh equity shares bringing down their holdings from 22.54 Lakh equity shares pre-disposal to 13.40 Lakh equity shares after the disposal.

The latest standalone data portray a reduction in the operating revenues from Rs 982 crores during FY22-23 to revenues of Rs 1,037 crores in the previous financial year. On a contrasting note, the company was able to increase its net profits from Rs 134 crores during FY21-22 to Rs 158 crores in FY22-23.

As per the latest shareholding data available for the March 2023 quarter, Promoters of the company hold a 71.43 percent stake, and Foreign Institutional Investors hold a 3.18 percent stake in the company.

Bayer CropScience Limited is involved in the process of manufacturing and selling crop-protection as well as hybrid seed products to the agriculture industry. It sells hybrid seeds, fungicides, and many other agrochemical products.

Geographically, the company derives a vast portion of its revenues from domestic operations within India. Apart from the same, it conducts operations in the German markets.

Written by Amit Madnani

The post Aditya Birla Sun Life MF trims stake in this Agrochemical Stock; Check the details appeared first on Trade Brains.

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