Greaves Cotton stock price rises around 5% as Porinju Veliyath’s Equity Intelligence buys 12.5 lakh shares
Porinju Veliyath's firm acquired a 0.51 percent stake in Greaves Cotton for ₹29.37 crore. The stock jumped 5 percent after the investment announcement. Greaves Cotton also reported a significant 64 percent YoY net profit growth for Q3 FY25.
Porinju Veliyath's Equity Intelligence India Private Limited has made a significant investment in Greaves Cotton, purchasing 12.52 lakh shares, representing a 0.51 percent stake in the company. The acquisition, executed through a bulk deal on January 27, was made at an average price of ₹234.63 per share, amounting to a total investment of ₹29.37 crore. This price reflects an almost 5 percent discount to the company’s closing price on January 27.
Stock Performance Following Investment
Following the announcement, Greaves Cotton’s stock opened over 3 percent higher on January 28 at ₹246.30 per share on BSE. It quickly gained momentum, reaching an intraday high of ₹258.00 per share, representing a rally of approximately 5 percent.
Post today's gain, the stock is over 19 percent away from its 52-week high of ₹319.50, hit in December 2024, meanwhile, it has soared over 129 percent from its 52-week low of ₹112.50, recorded in June 2024. The stock rallied almost 50 percent in the last 1 year but has fallen around 11 percent in January so far.
Vijay Kedia's Earlier Investment
This is not the first high-profile investment in Greaves Cotton. Renowned investor Vijay Kedia, through his firm Kedia Securities, acquired 12 lakh shares of the company in a bulk deal on December 9, 2024. Kedia’s acquisition was at ₹208.87 per share, further underscoring the appeal of Greaves Cotton among marquee investors.
Robust Financial Performance in Q3 FY25
Greaves Cotton has been in the spotlight not just for its investments but also for its strong financial performance. For the third quarter of FY25, the company reported a remarkable 64 percent year-on-year (YoY) increase in net profit, which stood at ₹20.8 crore compared to ₹12.7 crore in the same quarter of the previous fiscal year.
Revenue for the quarter rose by 12.8 percent YoY, reaching ₹750.6 crore, up from ₹665.4 crore in Q3 FY24. Additionally, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 12 percent YoY to ₹39.7 crore, compared to ₹35.4 crore in the year-ago period. However, the EBITDA margin remained flat at 5.3 percent, consistent with the previous year’s figures.
About Greaves Cotton
With a 165-year legacy, Greaves Cotton has established itself as a diversified engineering powerhouse. Initially renowned for its diesel engines, the company has evolved into a fuel-agnostic, end-to-end mobility solutions provider. Its extensive product portfolio and ability to adapt to changing market dynamics have made it a preferred choice for both investors and consumers.
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.
- Top Gainers
- Top Losers
- 52 Week High