₹50 smallcap stock: Kamdhenu Ventures hits new high after Mauritius-based FIIs acquire stake

Shares of Kamdhenu Ventures were in focus after Mauritius-based FIIs Al Maha Investment Fund and Unico Global Opportunities Fund Limited acquired stakes in the company at an average price of ₹51 per share.

The stock rose a little over 1 percent to hit its record high of ₹51.59 in intra-day trading on September 13. It has now surged over 90 percent from its 52-week low of 27.12, recorded in October last year. The stock jumped 52 percent in the last one year and over 50 percent in 2024 YTD.

The smallcap stock gained over 18 percent in September so far, extending gains for the fourth straight month. It rose 7.3 percent in August, 1 percent in July, and 21 percent in June. 

Prior to these gains, the stock fell 13.5 percent in May after a 14.2 percent rise in April. It also saw corrections in February and March, dropping 15.2 percent and 12.4 percent, respectively. Meanwhile, in January, it was up 31.2 percent.

About the company

Kamdhenu Paints, a subsidiary of Kamdhenu Ventures, recently announced plans to expand its premium product line with the introduction of a new Wood Coatings range adhering to international quality standards. The launch, scheduled for October 2024, aims to solidify Kamdhenu Paints' position as a leader in premium coatings solutions.

To meet growing demand, Kamdhenu Paints increased its production capacity from 36,000 kilolitres per year to 49,000 kilolitres. The company is also aggressively expanding its network of tinting machines to improve accessibility for customers.

Established in 2008, Kamdhenu Paints is known for its innovation in the decorative paint industry. Its R&D team developed the Dual Emulsions Series, a cost-effective solution embraced by dealers and contractors. The company is also expanding its operations, with a new office in Gurugram, Haryana, to support its growth initiatives.

Kamdhenu Paints offers a wide range of products, including emulsions, wood finishes, and designer paints, aiming to be a one-stop shop for customers' construction needs. With 40+ SKUs, 34 sales depots, and a dealer network of 4,300+, Kamdhenu's products are available nationwide.

Committed to sustainability, Kamdhenu Paints has introduced water-based, eco-friendly paints with low VOCs. Backed by modern automation and state-of-the-art manufacturing facilities, the company strives to deliver top-quality products while minimising its environmental impact.

As the company continues to grow, its robust fundamentals and steady growth trends suggest a further upside potential for shareholders.