During Monday’s trading session, the shares of this leading room air conditioner (AC) manufacturer surged 12.5 percent to Rs. 6,880.1 on BSE, following Goldman Sachs and Citigroup, along with other Indian Mutual Funds bought stake in the company via a block deal on NSE for worth Rs. 209.8 crores.
With a market cap of Rs. 23,214.4 crores, at 02:07 p.m., the shares of Amber Enterprises India Limited were trading in the green at Rs. 6,863.4, up by around 12.2 percent, as against its previous closing price of Rs. 6,115.35.
What’s the News:
According to the latest block deal on the NSE, foreign investors Citigroup Global Markets Mauritius Private Limited and Goldman Sachs Investments Mauritius I Limited bought a total of nearly 33,004 equity shares in Amber Enterprises through an open market transaction for about Rs. 20 crores, at an average price of Rs. 6,075 per share.
Additionally, Axis Mutual Fund, ICICI Prudential Life Insurance Company Limited, Mahindra Manulife Mutual Fund, and Tata AIA Life Insurance Company Limited collectively purchased about 3.12 lakh equity shares in the company at the same price, bringing the total transaction value to ~Rs. 189.8 crores.
However, on the seller side, the foreign investor Ascent Investment Holdings PTE Limited offloaded around 3.45 lakh equity shares at the same price, equivalent to a 1.02 percent stake, resulting in a deal value of Rs. 209.8 crores.
As per the September 2024 shareholding data available with the BSE, Ascent Investment Holdings held a 4.27 percent stake in Amber Enterprises.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 82 percent from Rs. 927 crores in Q2 FY24 to Rs. 1,685 crores in Q2 FY25.
Similarly, its net profit increased during the same period from a loss of Rs. 6 crores to a profit of Rs. 21 crores.
On a year-on-year basis, the operating EBITDA increased from Rs. 65 crores in Q2 FY24 to Rs. 120 crores in Q2 FY25, registering a growth of 85 percent YoY, while the operating EBITDA margins jumped marginally from 7 percent to 7.1 percent.
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Stock Performance:
The stock has delivered multibagger returns of nearly 125 percent in one year, and around 66.7 percent of positive returns in the last six months. So far in 2024, the shares of Amber Enterprises India have given multibagger returns of about 118.5 percent.
About the company:
Incorporated in 1956, Amber Enterprises India Limited is principally engaged in the business of manufacturing and trading of consumer durables, electronics manufacturing services (EMS) and railway subsystem & mobility and its services.
Written by Shivani Singh
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