During Wednesday’s trading session, the shares of one of the leading players in the tiles and marble business are in focus on stock exchanges, after Kamath Associates bought shares worth Rs. 9.7 crores via a bulk deal on NSE.
Price Movements:
With a market cap of Rs. 884.2 crores, the shares of Nitco Ltd (NSE:NCOT) hit an intraday high at Rs. 127, up by nearly 2.3 percent, as compared to its previous closing price of Rs. 124.25.
The stock has delivered positive returns of over 95 percent in one year, and has gained around 7 percent in the last one month.
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What’s the News:
As per the latest bulk deal available with the NSE, Kamath Associates bought 8,12,137 equity shares in NITCO Limited through an open market transaction, representing a 0.36 percent stake. The deal was valued at approximately Rs. 9.74 crore, executed at an average price of Rs. 120 per share.
On the selling side, Setu Securities Private Limited offloaded 14 lakh shares—equivalent to a 0.61 percent stake—in a transaction worth around Rs. 16.8 crore on the NSE, at an average price of Rs. 120.02 per share.
Previous Updates:
16th December 2024 – NITCO Limited secured orders valued at Rs. 105 crores from the real estate firm Prestige Group for the supply of tiles, marble and mosaic. Based on the Prestige’s ongoing projects, NITCO expects the order size to increase to about Rs. 210 crore.
Financial Performance:
NITCO reported a marginal growth in revenue from operations, experiencing a year-on-year increase of nearly 6.3 percent, rising from Rs. 80 crores in Q3 FY24 to Rs. 85 crores in Q3 FY25.
However, during the same period, the company’s net loss widened from Rs. 45 crores to Rs. 660 crores, representing a decline of around 1367 percent YoY.
About the company:
Incorporated in 1966, NITCO Limited is one of the leading players in the tiles and marble business, with manufacturing facilities located in Maharashtra and Silvassa. The company sells its products primarily in India through independent dealers/distributors and modern trade.
Written by Shivani Singh
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The post Bulk Deal: Stock under ₹130 jumps after Kamath Associates bought shares worth ₹9.7 Cr appeared first on Trade Brains.
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