Shares of Jyoti Structures jumped 10% in intraday trading on Tuesday, October 8, to ₹29.30 apiece after prominent investor Ashish Kacholia's name emerged among the company's shareholders. Known as the "Big Whale" of Dalal Street, Kacholia acquired a fresh 2.52% stake in Jyoti Structures during the September quarter (Q2), according to data from Trendlyne. However, the average buying price for his stake was not disclosed.
Kacholia has been building his portfolio of stocks for about two decades now. His investment strategies, which include increasing and reducing stakes in individual stocks, tend to have significant implications on the scrip's movements.
Kacholia primarily focuses on mid- and small-cap stocks, which make up two-thirds of his portfolio. He is known for his expertise in diversification and efficient capital allocation, often spreading investments across various sectors, especially chemicals and petrochemicals.
Jyoti Structures is engaged in the electricity transmission, distribution, and substation sectors. The company specialises in delivering turnkey projects that encompass the design, testing, manufacturing, erection, and commissioning of transmission lines, substations, and power distribution projects, both in India and internationally.
In August, the company secured an order valued at ₹1.06 billion from a private developer for the supply of towers for a 765-kilovolt DC transmission line project. Additionally, in July, it won an order worth ₹1.17 billion from Adani Energy Solutions to build and partially supply a 765-kilovolt transmission line.
In April, Jyoti Structures successfully completed all three transmission lines awarded by Mundra Port and Special Economic Zone.
According to the latest shareholding pattern, general shareholders own the majority stake in the company at 96.8%, followed by domestic institutional investors (DIIs) at 1.9% and foreign institutional investors (FIIs) at 1.4%.
Since March 2023, the company's shares have exhibited a consistent upward trend, surging from ₹5 apiece to the current trading price of ₹29.30, marking an impressive gain of 486%. Despite this remarkable rally, the stock remains approximately 90% below its all-time high of ₹311, reached in February 2008.
The stock's yearly performance trend shows that it faced a decade-long decline from 2008 to 2018 before gaining momentum in 2019.
For the quarter ended June 2024 (Q1FY25), the company reported a consolidated net profit of ₹5.09 crore, compared to a net profit of ₹2.46 crore in the same period last year. However, revenue from operations stood at ₹88.29 crore, a decrease from ₹185.17 crore.
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