Shares of S H Kelkar and Company jumped more than 5 percent in the morning trade on BSE on June 4, a day after the counter witnessed multiple bulk deals.
On June 3, Kotak Mahindra (International) bought 31,52,863 shares in the company at Rs 62 per share.
However, Fidelity Investment Trust Fidelity Series Emerging Markets Fund sold 34,53,500 shares at Rs 64.15 per share and HDFC MF sold 40 lakh shares at Rs 62.03 per share.
As per CNBC-TV18, promoters of the company will keep investing in the company due to excess cash and they have bought additional 1 percent stake in the company.
The company's all plants are working at 70 percent capacity utilisation. Strong demand from customers is seen in sanitisers and hygiene products.
As per CNBC-TV18, the company expects additional revenue of Rs 20-25 crore from personal hygiene products due to COVID-19.
The company said it saw a 20 percent jump in volumes in Italian subsidiary in March due to COVID-19.
While current receivables had gone up in April, the company is seeing a 30-day increase in receivable days.
For the March quarter, the company's consolidated revenue stood at Rs 269.77 crore, against Rs 268.57 crore in the corresponding quarter of the previous financial year.
The company's profit for Q4FY20 fell to Rs 12.02 crore against Rs 20.15 crore in Q4FY19.
Shares of the company traded 1.19 percent up at Rs 63.80 on BSE around 1025 hours.
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