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SJS Enterprises shares fall after Ashish Kacholia sells stake worth Rs 11.5 crore

SJS Enterprises shares fall after Ashish Kacholia sells stake worth Rs 11.5 crore

SJS Enterprises shares fell 4.48% to an intraday low of Rs 610.90 on BSE. Market cap of the firm declined to Rs 1901.54 crore.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Aug 23, 2023 11:30 AM IST
SJS Enterprises shares fall after Ashish Kacholia sells stake worth Rs 11.5 crore SJS Enterprises shares are trading higher than 50 day, 100 day, 150 day and 200 day but lower than the 5 day, 10 day and 20 day moving averages.
SUMMARY
  • In terms of technicals, the relative strength index (RSI) of SJS Enterprises stands at 57.9, signaling it's trading neither in the overbought zone nor in the oversold zone.
  • SJS Enterprises stock has a one-year beta of 0.7, indicating very low volatility during the period.
  • On August 18, Kacholia offloaded 1.8 lakh shares of SJS Enterprises for Rs 640 apiece in a bulk deal.

Shares of SJS Enterprises slipped over 4% in early deals today after ace investor Ashish Kacholia sold shares worth Rs 11.5 crore on the National Stock Exchange. The stock fell 4.48% to an intraday low of Rs 610.90 on BSE. Market cap of the firm declined to Rs 1901.54 crore. The stock hit a 52 week low of Rs 379 on March 20, 2023 and a 52 week high of Rs 703.95 on August 14, 2023. Total 8475 shares of the firm changed hands amounting to a turnover of Rs 52.44 crore on BSE.    

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In terms of technicals, the relative strength index (RSI) of SJS Enterprises stands at 57.9, signaling it's trading neither in the overbought zone nor in the oversold zone. SJS Enterprises stock has a one-year beta of 0.7, indicating very low volatility during the period. SJS Enterprises shares are trading higher than 50 day, 100 day, 150 day and 200 day but lower than the 5 day, 10 day and 20 day moving averages.        

On August 18, Kacholia offloaded 1.8 lakh shares of SJS Enterprises for Rs 640 apiece in a bulk deal. In the same session, 3 lakh SJS Enterprises shares changed hands on bourses, which was 50 percent more than its monthly traded average. 

In a separate development,  SJS Enterprises will buy Suryaurja Two, a power generation company for Rs 20 lakh, said the firm on August 16. Post-acquisition SJS Enterprises will become a captive consumer for STPL’s 2 MW solar power. The acquisition will be completed before August 30. 

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Also read: Hot stocks on August 21, 2023: Reliance Industries, PNB Housing, Jio Financial, SJS Enterprises and more

SJS Enterprises reported a 6 percent rise in year-on-year (YoY) profit to Rs 16 crore in the April-June quarter. Revenue climbed 12 percent YoY to Rs 83 crore in the same period. 

SJS Enterprises makes aesthetic products for two-wheelers, passenger vehicles, commercial vehicles, consumer durables/appliances, medical devices, farm equipment, and sanitary ware industries. 

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Also read: JFS shares list at Rs 265 on BSE; m-cap stands at Rs 1.68 lakh crore

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 21, 2023 11:18 AM IST
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