This Small Cap Stock Added ₹35 Cr To Nemish Shah's Net Worth Today

Shares of Asahi India Glass jumped up close to 4% today to hit an intraday high of ₹485. As per the latest shareholding data, ace investor Nemish Shah holds a substantial stake in the company.

The stock has shown some signs of recovery this week as the shares of the company have jumped up close to 5%. The company has been having a tough time at the bourses as the stock has gone down by 9% since the start of the year.

Talking about the company’s financials, its numbers for the March quarter failed to meet expectations. The company’s consolidated revenue from operations was up 13.64% year-over-year at ₹1,072.4 crore. The company’s net profits on the hand fell by 46% YoY to ₹68.9 crore.

See Also: These 2 Tata Stocks Added Over ₹100 Cr To Rekha Jhujhunwala’s Net Worth Today

After the disappointing numbers, domestic brokerage firm ICICI Securities downgraded the stock’s rating from ‘add’ to ‘hold’ revising the price target to ₹468 from ₹558.

However, with the signs of recovery this week, let’s see how the glass manufacturer added ₹35 crore to Nemish Shah’s net worth today.

Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Shah owns a total of 14,482,818 shares, which is 5.95% of Asahi India Glass Limited. Given the rise in the share price, the value of his stake has seen a considerable increase. Yesterday, the value of his stake was approximately ₹667.36 crore, when the stock closed at ₹460.80. Today, with the surge in the share price, the value of his stake has gone up to ₹702.41 crore. This translates to an increase of around ₹34.8 crore in just one day.

Price Action: Asahi India Glass Limited’s share price was up 5.25% to trade at ₹485 in the late hours of trading today.

Read Next: Is Olectra Greentech Share A Good Buy?

Editor's Note: Artificial intelligence was used as a secondary aid in the writing of this story.

Posted In: EquitiesMarketsAsahi India GlassNemish Shah