Mukul Agarwal Enters This Debutant Stock in Q3, Picks 2% Stake: Valuation?

  • Stock Market News
Mukul Agarwal Enters This Debutant Stock in Q3, Picks 2% Stake: Valuation?
Credit: © Reuters.

By Malvika Gurung -- Ace investor Mukul Agarwal has picked a fresh stake in the country’s largest winemaker Sula Vineyards (NS: SULA ) during the December 2022 quarter.

According to the latest shareholding pattern released by the Nashik-based winemaker, the marquee investor holds 16 lakh equity shares of the company, translating to a 1.9% stake in the company in Q3 FY23.

Mukul Agarwal’s total holding in the small-cap company aggregates to Rs 59.71 crore, considering the company’s closing price of Rs 373.2/share on Monday, Jan 16.

The market mogul did not hold any shares of Sula Vineyards in the preceding quarters, as his name was absent from the company’s list of individual shareholders, as companies have to compulsorily release the names of all the shareholders holding at least a 1% stake in the company, every quarter - indicating that Agarwal entered the winemaker’s stock in the December 2022 quarter.

Shares of Sula Vineyards soared 19.23% and hit a 52-week high of Rs Rs 388 apiece on Monday, logging their best intraday gains since debuting on the bourses on Dec 22.

The company clocked its highest-ever quarterly sales performance in Q3, including its own brands as well as the wine tourism business.

For its own brands, Sula witnessed a 13% YoY rise in sales at Rs 187.2 crore in Q3 and for the wine tourism business, its revenues grew 13% YoY to Rs 23 crore.

Read Also: Sula Vineyards Soars 19%, Hits 52-Wk High on Clocking Record Sales in Q3

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