FMCG stock on focus: Promoters buy 4.50 lakh shares on open market
Suspense Crime, Digital Desk : The total stake held by the promoters and PACs of the company will now rise to 13.05 crore shares, which represent 62.98 per cent of total holdings of the firm.
Shares of the small cap firm GRM Overseas Ltd (market cap of Rs 1,859.71 crore) were in focus on Monday after the company submitted vital details regarding the purchase of its shares to the stock exchanges. The firm revealed that certain individuals who were associated with its promoter group bought stake in the firm. According to the announcement, these individuals were mainly Atul Garg along with Mamta Garg, Hukam Chand Garg, and Nipun Jain (shown as PACs) respectively.
Atul Garg, Mamta Garg and Hukam Chand Garg belong to the company's promoter/ promoter group, whereas Nipun Jain is a director of the firm. The promoter group purchased 4.50 lakh shares in the company on the open market, and these shares form about 0.22 per cent of the total share capital.
Post this buy-out, the total shareholding of the promoter group and PACs rose to 13.05 crore shares, accounting for 62.98 per cent of the entire stake in GRM Overseas.
As of 2:25 PM today, GRM Overseas stock was down 4.08 percent or Rs 3.80 at Rs 89.43 on the NSE and on the BSE, the shares of the company were trading 4.02 percent or Rs 3.75 down at Rs 89.55.
GRM Overseas Q4FY26 Results
GRM Overseas reported its quarterly results and the company’s consolidated net profit rose by 5.51% to Rs 21.61 crore in March quarter from Rs 20.48 crore in the year-ago quarter. Revenue grew by 104.94% to Rs 597.20 crore in the March quarter from Rs 290 crore a year earlier.
Operating margins however remained under pressure. EBITDA fell by 90% to Rs 30 crore (Rs 30 million) in the March quarter from Rs 32.7 crore (Rs 327 million) a year ago.
Meanwhile, benchmark stock indices Sensex and Nifty jumped in early deals on Monday amid a rally in global markets and a sharp drop in crude oil prices as the US and Iran finalized a deal to end a 107-day war. The 30-share BSE Sensex gained 1,112.70 points to 76,648.74 in early deals. The 50-share NSE Nifty surged 335.55 points to 23,956.40.
