Massachusetts Institute of Technology has increased its stake in Everest Industries to 7.32 per cent from 5.01 per cent.

In a disclosure to the stock exchanges, the building solutions provider company said that MIT has bought 3,63,978 shares of the company between June 23 and October 11 from open market.

Split up

According to the latest shareholding pattern (June-end) available with the stock exchanges, public holding stands at 49.25 per cent while promoters own 50.75 per cent.

Among the public, foreign portfolio investors hold 6.32 per cent stake (which included MIT's 5.04 per cent stake) and retail investors 24.48 per cent stake. High net worth individuals had 9.03 per cent stake in the company and included among them are ace investor Ashok Kumar Goel, who own 1.11 per cent.

For the quarter ended June, the company had posted a profit of ₹21.40 crore and revenues of ₹451.79 crore; for FY22, the corresponding figures are ₹44.12 crore and ₹1,361.19 crore respectively.

The stock, which is a part of BSE Small-cap Index, delivered a return of 50.7 per cent year-to-date against Sensex's flat return. For the three-year period, it produced a strong return of 158 per cent.

Shares of Everest Industries closed 0.21 per cent lower at ₹824.05 on the BSE.

MIT currently holds stake in over two dozen Indian companies including Synergy Green,, ITD Cementation, Redington and IEX.