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Autoline Industries share falls 4% after Rakesh Jhunjhunwala, wife Rekha cut stake

BusinessToday.In     November 20, 2020

Autoline Industries share was trading nearly 4% lower in Friday's early session after ace investor Rakesh Jhunjhunwala and his wife reduced stake in the company by around half a percent.

Following the updates, Autoline Industries stock fell 3.9% to an intraday low of Rs 29.05, against the last close of Rs 30.25. The stock also hit an intraday high of Rs 30.20, also its opening price.

Autoline Industries stock stands higher than 5, 20, 50, 100, and 200-day moving averages. The stock price of Autoline Industries has risen 3.8% in one week, 3.3% in one month, and 19% since the beginning of the year.

Market capitalisation of the firm stood at Rs 84 crore as of today's closing session.

As per the company's latest shareholding pattern, Jhunjhunwala Rakesh Radheshyam owns 3.29% stake from an earlier 5.65% stake, while his wife Rekha Jhunjhunwala has a 2.3% stake in the company as against 6.2% stake, as of the September quarter.

In the September quarter, the auto ancillary company posted a consolidated loss of Rs 12.49 crore compared to Rs 18.26 crore loss in the same period last year, while its revenue from operations fell to Rs 61.5 crore from Rs 83.07 crore YoY.

Autoline Industries stock price closed 1.65% lower at Rs 29.75 on BSE.

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