SJS Enterprises faced a setback in the opening trade on November 9, with its stock trading 1.21 percent lower. The decline followed renowned investor Ashish Kacholia’s sale of 1.6 lakh equity shares in the aesthetics products manufacturing company.
According to exchange data, Kacholia divested 0.51 percent stake in SJS Enterprises through an open market transaction, selling the shares at an average price of Rs 653.22 each, amounting to over Rs 10 crore. This move marked a significant change in Kacholia’s stake, as he held a 3.23 percent share in the company as of September 2023.
In its Q2FY24 report, SJS Enterprises disclosed a total income from operations amounting to Rs 87.12, showing growth from the previous year’s Rs 81.83. However, the net profit for the same period declined to Rs 16.36 from Rs 17.15 in the previous fiscal, indicating a dip in profitability.
As of 10:16 am, SJS Enterprises’ stock was trading at ₹613.45 on the National Stock Exchange, reflecting the market’s response to Kacholia’s stake sale and the company’s financial performance in the recent quarter.
