Top US University MIT Raises Stake In This Multibagger Micro Cap Stock

World-renowned Massachusetts Institute of Technology raised its stake in Calcom Vision during the June quarter.

As per the latest shareholding data, the US-based institute bought another 1.14 lakh shares of the company. As per an exchange filing, the shares were allotted to the institute on a preferential basis at a price of ₹157 per share. The total cost of this acquisition came in at around ₹1.8 crore.

With this acquisition, MIT now holds a 6.84% stake in the company, which is worth around ₹15 crore. With a market cap of around ₹220 crore, the micro-cap company is involved in the business of manufacturing lighting electronics.

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Over the last three years, the stock has given multi-bagger returns to investors. The stock has gone up from ₹25-₹30 per share levels in July 2020 to the current levels of ₹170 apiece.

As per a statement released last week, Calcom Vision achieved quarterly sales of ₹33.08 crore in the June quarter up 10% as compared to the corresponding quarter of the previous year.

Price Action: Calcom Vision’s share price was down 0.03% to trade at ₹168 in the late hours of trading on Monday.

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Posted In: EquitiesMarketsCalcom VisionMassachusetts Institute of Technology