Aditya Vision gains 2% after promoters offload stake

Aditya Vision gains 2% after promoters offload stake

Promoters of the Bihar-based Aditya Vision, Sunita Sinha offloaded 5 lakh shares at an average price of Rs 2,203.02 per share and Nishant Prabhakar offloaded 1.48 lakh shares at an average price of Rs 2,200.85 per share.

Representative Image: The consumer durables and electronics retailer has over 117 stores in Bihar (91), Uttar Pradesh(8) and Jharkhand (18).

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Shares of Aditya Vision were trading 2.5 percent up at open on September 18, after promoters sold 5.39 percent stake in the electronics retail chain.

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According to bulk deal data, promoters of the Bihar-based Aditya Vision Sunita Sinha offloaded 5 lakh shares at an average price of Rs 2,203.02 per share and Nishant Prabhakar offloaded 1.48 lakh shares at an average price of Rs 2,200.85 per share. The buyer of some of these shares was HDFC Mutual Fund, purchasing 5 lakh shares at an average price of Rs 2,199.74 per share.

For the quarter ending June 2023, Aditya Vision reported a 46.23 percent year-on-year increase in operational revenue to Rs 641.23 crore compared to Rs 438.51 crore in Q1FY23. Net Profit also increased 41.26 percent year-on-year to Rs 37.42 crore.

Also read: Ashish Kacholia picks Rs 14.65 crore stake in this electronic retail chain

The consumer durables and electronics retailer has over 117 stores in Bihar (91), Uttar Pradesh(8) and Jharkhand (18). Stocks of the retailer, which owns a 50 percent market share in  Bihar, got a push in December 2022 after ace investor Ashish Kacholia picked up a 0.83 percent stake  via open market transactions. As per bulk deals data, Kacholia picked up 1 lakh shares in the company, at an average price of Rs 1,465.90 per share. The total value of shares bought by Kacholia were worth Rs 14.65 crore.

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