Stocks

Gogri family acquires 3% stake in Mitsu Chem Plast

Our Bureau Mumbai | Updated on April 13, 2021

Original promoters too hiked stake by 4.72% in last quarter

Aarti Industries’ and Valiant Organics’ promoters Gogri family has bought nearly three per cent stake in Mitsu Chem Plast during the last quarter.

According to a BSE filing, Jaya Chandrakant Gogri, wife of Chandrakant Gogri and also one of the promoters of Aarti Industries, has acquired a 2.91 per cent stake in the firm, which comprises about 3,51,200 shares. The stock was trading between ₹100 and ₹120 in the last quarter, which indicates that the size of investment could be about ₹4 crore.

Promoters hike stake

During the last quarter, Mitsu Chem Plast promoters have also bought close to 4.72 per cent stake in the company from the open market, taking the promoters’ holding to 71.03 per cent. While 17 high net worth individuals hold 15.08 per cent stake, small retail investors own just 3.39 per cent in the firm.

Mitsu Chem Plast is a leading blow-moulding and injection-moulding company specialising in niche products. The company’s revenues, EBIDTA and net profits have almost doubled between FY16 and FY20. Shares of the firm were marginally up at ₹117.55 on the BSE on Tuesday.

Published on April 13, 2021

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