Penny stock: Five foreign companies picked up a stake in KBC Global, whose shares are priced below ₹5, during the September quarter of the ongoing financial year 2024-25 (Q2 FY25).
The latest shareholding data shows that during the recently concluded quarter, Beacon Stone Capital Vcc - Beacon Stone, Global Focus Fund, Zeal Global Opportunities Fund, M7 Global Fund Pcc - Cell Dewcap Fund and Nova Global Opportunities Fund Pcc - Touchstone picked fresh stakes in the company.
As of the June quarter, these companies' names did not appear in the shareholding pattern of KBC Global.
The September quarter shareholding data shows that Beacon Stone Capital Vcc - Beacon Stone I Fccb held 7,20,01,207 shares of KBC Global, representing a 4.21 per cent stake. Meanwhile, Global Focus Fund held 12,65,64,114 shares or a 7.40% holding.
Zeal Global Opportunities Fund, M7 Global Fund Pcc - Cell Dewcap Fund and Nova Global Opportunities Fund Pcc - Touchstone held 8.43%, 8.43% and 8.44% stakes, respectively as per the latest data.
Furthermore, the number of retail investors in the company increased in the last quarter to 2,27,083 from 2,06,500 on a quarter-on-quarter (QoQ) basis.
As per Trendlyne data, mutual fund holding in the stock is nil, with the majority of the stake lying with the promoters of the company.
So far, in the current calendar year, penny stock KBC Global has risen 22 per cent to ₹2.44 apiece from ₹2 at the end of last year. The stock had hit a 52-week high of ₹2.65 apiece on the BSE on January 10, 2024, while its 52-week low stands at ₹1.57, touched on June 12, 2024.
In Monday's trade, the stock was trading flat at ₹2.44, up 0.83%.
Furthermore, the company in a stock exchange filing on November 8 said that its board will meet this week to consider and approve the financial results for the September quarter and half year ended September 30, 2024.
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.