This Small Cap Stock Added ₹50 Cr To Nemish Shah's Net Worth Just This Week

This Small Cap Stock Added ₹50 Cr To Nemish Shah's Net Worth Just This Week

Elgi Equipments' share price was back in the green on Wednesday as the stock climbed up over 7% to hit a new 52-week high of ₹578.30. As per the latest shareholding data, ace investor Nemish Shah holds a 1.69% stake in the company.

Shares of the company have been rallying on the bourses after the company posted its results for the March quarter last week. The company’s net profits for the quarter surged over 130% year-over-year to ₹170.1 crore. The company also announced a ₹2/share dividend for the year ended March 2023. 

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So, now coming to the calculation we are here for. Nemish Shah holds around 1.69% or 53.6 lakh shares of the company. On Friday, the value of his stake in the company was around ₹253.09 crore. With the massive surge this week, his holding’s value has gone up to 309.96 crore. An over 20% increase in just three days.

Price Action: Elgi Equipment shares were up 6.59% to trade at ₹574.80 in the early hours of trading on Wednesday.

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Posted In: EquitiesMarketsMoversTrading IdeasElgi EquipmentsNemish Shah