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Business News/ Markets / Stock Markets/  FII-backed multibagger chemical stock near lifetime high after Q3 results 2024
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FII-backed multibagger chemical stock near lifetime high after Q3 results 2024

Multibagger stock: FIIs own a 16.81% stake in this chemical stock that has surged 200% in the last one year

Stock market today: Multibagger chemical stock today opened upside and touched an intraday high of ₹223.30 apiece, which is less than 10% away from its existing lifetime higih of ₹245 per share. (Mint)Premium
Stock market today: Multibagger chemical stock today opened upside and touched an intraday high of 223.30 apiece, which is less than 10% away from its existing lifetime higih of 245 per share. (Mint)

Multibagger stock: Kamdhenu Ventures shares are one of the multibagger stocks that the Indian stock market has produced in the last one year. The multibagger chemical stock that deals in paint making has delivered to the tune of 200 percent in the last one year and some FIIs of big repute have a stake in this company as well. However, it seems that the FII-backed chemical stock still possesses some upside potential.

Kamdhenu Ventures share price today opened upside and went on to touch an intraday high of 223.30 apiece on NSE, which is less than 10 percent from its existing lifetime high of 245 per share.

Also Read: Yes Bank shares rise 13% on RBI's nod to HDFC Bank's cross-holding. Buy or sell?

Kamdhenu Ventures Q3 results 2024

For the quarter ended 31 December 2023, the chemical company reported revenue from operations at 79.1 Crores, up 14% YoY. EBITDA was reported at 6.2 Crores, a remarkable turnaround from a loss of 0.10 Crore in the corresponding period of the previous financial year. PAT also turned positive, from a loss of 3.3 Crores in Q3FY23 to a profit of 4.1 Crores in Q3FY24.

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For the nine months ended 31st December 2023, the paint maker company reported revenue from operations at 206.6 Crores, up 9% YoY. EBITDA was reported at 15.1 Crores, a solid turnaround from a loss of 0.6 Crores in the corresponding period last year. PAT also turned positive, from a loss of 8.8 Crores in 9MFY23 to a profit of 9.7 Crores in 9MFY24.

FIIs' stake in Kamdhenu Ventures

As per the shareholding pattern of this multibagger chemical stock for the October to December 2023 quarter, FIIs hold 1,05,79,107 company shares, which is 16.81 percent of the total paid-up capital of the chemical company. These FIIs include Dovetail India Fund Class 12, Ebene Global Opportunity Fund, Minerva Emerging Opportunities Fund, Aidos India Fund, etc.

Also Read: ABSL-backed Butterfly Gandhimathi shares hit 52-week low on weak Q3 results

As per the Q3FY24 shareholding pattern of the company, Dovetail India Fund Class 12 holds 14.79 lakh company shares, which is 2.35 percent of the total paid-up capital of the company. Ebene Global Opportunity Fund holds 25 lakh company shares or a 3.98 percent stake in the company. Minerva Emerging Opportunities Fund owns 27.90 lakh company shares or 4.44 percent stake in the company. Likewise, Aidos India Fund owns 28.40 lakh shares or 4.52 percent stake in the company.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 06 Feb 2024, 12:03 PM IST
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