SJS Enterprises down as Ashish Kacholia pares stake

So far this year, the stock of this automotive component manufacturer surged 25 percent as against 6 percent rise in the benchmark Sensex

SJS Enterprises was trading 1.21 percent lower in the opening trade on November 9, a day after ace investor Ashish Kacholia sold 1.6 lakh equity shares in the aesthetics products manufacturing company.

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According to exchange data, Kacholia has sold 1.6 lakh equity shares, or 0.51 percent stake, in SJS Enterprises via open market transaction, at an average price of Rs 653.22 a share amounting to over Rs 10 crore. As of September 2023, Kacholia held a 3.23 percent stake in the company.

Also read: SJS Enterprises Standalone September 2023 Net Sales at Rs 87.12 crore, up 6.47% Y-o-Y

In Q2FY24, SJS Enterprises reported Rs 87.12 in total income from operations, up from Rs 81.83 in the year-ago period.  Net profit during the period fell to Rs 16.36 from Rs 17.15 in the previous fiscal.

According to the company website, Bangalore-based SJS Enterprises is " a design-to-delivery” aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries."

At 9.35 am, the stock was trading at Rs 633.50 on the National Stock Exchange.

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