Kiddy Plast sold over 10.87 lakh shares in the luggage manufacturing company at a price of Rs 388 apiece taking the deal size at Rs 42.18 crore while Piramal Vibhuti Investments offloaded over 77.52 lakh shares at a price of Rs 388.25 per equity share amounting to Rs 301 crore.
Shares of VIP industries today ended at Rs 409 on the BSE, down by Rs 17.10 or 4.01% over the Thursday closing price of Rs 426.10
The buyers in the deal were Multiples Private Equity Gift Fund IV, Samvibhag Securities Private Limited and Multiples Private Equity Fund IV. They bought shares worth Rs 122 crore, 85 crore and Rs 111 crore, respectively.
VIP Industries shares have been market laggards, declining 28% in the last one year. Its fall has been sharper than headline indices BSE Sensex and NSE which have fallen 5.6% and 5.2% in the same period.
The stock is currently trading below its 50-day simple moving average (SMA) of Rs 438 while above its 200-day SMA of Rs 388.9 according to Trendlyne data.The stock has traded with high volatility with a 1-year beta of 1.1.The company’s June quarter consolidated net loss stood at Rs 13 crore versus Rs 4 crore net profit reported in the year ago period. VIP Industries’ total revenue in the said quarter stood at Rs 566 crore which was an 11.7% year-on-year fall.
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