Mangalore Chemicals shares turn positive after Dolly Khanna buys additional stake in Q4

Shares of Mangalore Chemicals & Fertilizers Ltd turned green in the afternoon session on Monday after shareholding data on BSE showed that ace investor Dolly Khanna bought an additional 1.10 lakh shares in the fertilizer major in the fourth quarter of the previous fiscal. Dolly Khanna owned 16,50,990 shares or 1.39% stake in the last quarter against 15,40,990 shares (1.30% stake) in the December quarter of the previous fiscal.

This buoyed sentiment around the fertiliser stock. Mangalore Chemicals shares rose 1.94% to Rs 123 against the previous close of Rs 120.65. Earlier, the stock was trading in the red, touching an intraday low of Rs 118.25 on BSE.

Earlier, Mangalore Chemicals & Fertilizers stock opened higher at Rs 121.05 against the previous close of Rs 120.65 on BSE. Market cap of the firm rose to Rs 1457.14 crore. Total 0.33 lakh shares changed hands amounting to a turnover of Rs 28.09 lakh on BSE.

Mangalore Chemicals & Fertilizers stock has a one-year beta of 0.5, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Mangalore Chemicals & Fertilizers stands at 62.4, signaling it's trading neither in the overbought nor in the oversold zone. Mangalore Chemicals & Fertilizers shares are trading higher than the 5 day, 10 day,  20 day, 50 day, 100 day and 200 day averages.

Among other shareholders, 217 banks held 0.18% stake or 2,14,285 shares in the firm in Q4.

66,185 resident individuals held 18.47% stake in the firm with an individual share capital of up to Rs 2 lakh. 112 resident individuals held 84.75 lakh shares of the firm, amounting to a stake of 7.15 per cent with an individual share capital of over Rs 2 lakh.

21 foreign portfolio investors owned 21.79 lakh shares or 1.84 per cent stake in the company at the end of March 2024 quarter.