Shares of Fratelli Vineyards today ended at Rs 109.70 on the BSE, witnessing a 5% jump over the Wednesday closing price of Rs 104.50.
Fratelli Vineyards has been a market laggard, with its share price falling nearly 72% in the past 1 year. This year, the stock price has eroded by 67%.
The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 136 and Rs 200, respectively, according to Trendlyne data.
Fratelli Vineyards is currently trading in a strongly oversold zone with momentum indicators RSI and MFI hovering near 20 and 7. A number below 30 is considered to be oversold.
The company reported a consolidated net loss of Rs 5.8 crore in Q1FY25, an improved performance sequentially from Rs 11 crore net loss in Q4FY25 and down on a year-on-year basis versus 2.7 crore net profit in Q1FY24. The company’s total revenue also fell 80% in the June-ended quarter to Rs 29 crore from Rs 144.2 crore in the year-ago period. Fratelli, which means ‘brothers’ in Italian, was started by the Secci brothers from Italy and the Sekhri and Mohite-Patil brothers from India.As per the latest corporate shareholdings compiled by Trendlyne, Porinju publicly holds 11 stocks with a net worth of over Rs 222.6 crore.
His other portfolio stocks include RPSG Ventures, Orient Bell, Apollo Sindoori Hotels, Sundaram Brake Lining, M M Rubber Company, Kerala Ayurveda and TAAL Enterprises.
The share purchase assumes importance and comes at a time when the government has rationalised the Goods and Services Tax (GST), reducing it to two tax slabs and an additional 40% slab on luxury and sin goods.
The GST Council has approved a sharp hike in rates for sin goods, moving them from the earlier 28% slab to a new 40% rate. This comes as part of the transition to GST 2.0, a simplified two-slab structure that will feature just 5% and 18% rates, with the higher 40% reserved for sin and luxury items.
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