Shares of Amber Enterprises skyrocketed over 13% on Tuesday to hit an intraday high of ₹2,387.30. As per the latest shareholding data, ace investor Akash Bhansali owns a 1.48% stake in the company.
The surge today comes as the company is scheduled to meet several investors this week. The stock was on a two-session losing streak prior to the surge today.
So, with this massive surge today, here’s how the consumer durables stock added ₹15 crore to Bhansali’s net worth today. Now, when the stock closed at ₹2,107.30 on Monday, the value of Bhansali’s 4,99,602 shares was ₹105.28 crore. With the surge today, the value of his stake went up to ₹119.26 crore.
The company last month reported its numbers for the quarter ended March. The company’s net profits grew over 80% year-over-year to ₹104 crore. Revenue from operations grew 55% to ₹3,002 crore.
However, brokerages were not impressed by the results. Domestic brokerage firms ICICI Securities and BOB Capital Markets maintained the hold rating for the stock with price targets of ₹2,110 and ₹2,260 respectively.
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Price Action: Amber Ent’s share price was up 8.99% to trade at ₹2,296.70 in the early hours of trading on Tuesday.
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