Akash Bhansali Picks Up This Micro Cap Stock That Has Gone Down 30% In The Past Year

Ace investor Akash Bhansali picked up a 2.09 stake in Praxis Home Retail during the June quarter. As per the latest shareholding data, Bhansali bought 26.08 lakh shares of the company.

With a market cap of around ₹200 crore, the micro-cap company provides home solutions. The company offers products in furniture, homeware, customised solutions in kitchen and wardrobes and home improvement. The company currently operates 43 stores across 28 cities. 

The company booked a ₹12.6 crore loss during the March quarter as against a profit of ₹2.3 crore booked in the year-ago period. The company’s revenue from operations also took a 33% year-on-year hit in the March quarter going down to ₹71.35 crore. The company is scheduled to release its earnings for the June quarter on August 7.

The stock has gone down over 30% in the past year. The stock is currently also under the Graded Surveillance Measure (GSM) framework.

Price Action: Praxis share price was up 1.83% to trade at ₹16.65 on Monday afternoon.

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Posted In: EquitiesMarketsAkash BhansaliPraxis Home Retail