Ace Investor Mukul Agrawal Raises Stake In This Wine Stock

Sula Vineyard‘s share price jumped back in the green on Wednesday as the latest shareholding data revealed that ace investor Mukul Agrawal has raised his holding in the winemaker.

What Happened: The company submitted its shareholding data to the exchanges late on Tuesday. As per the disclosure, Agrawal, who has a reputation for picking multibagger stocks, increased his stake in the company to 2.38% in the March quarter. At the end of the December quarter, Agrawal held a 1.90% stake in the company.

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With this increase, he now owns 20 lakh shares of the company. As the stock currently trades around ₹375 levels, his investment is worth around ₹75 crore. Mutual Funds also increased their stake in the company from 5.18% in the December quarter to 8.13% in the March quarter. Domestic Institutional Investors also raised their holding in the company to 11.8% in the March quarter. DIIs held an 8.9% stake in the company at the end of the December quarter.

The wine company had just released its Q4 business updates last week, which saw the Sula share price skyrocket. As per the disclosure made by the country’s only listed wine producer, the company saw its revenue from own brands jump 26% year-over-year to ₹482.5 crore in FY23 (April 2022- March 2023).

Price Action: Sula share price was up 0.83% to trade at ₹378 on Wednesday afternoon.

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Posted In: EquitiesMarketsTrading IdeasMukul AgrawalSula Vineyards