Ashish Kacholia picks nearly 1% shares in bags & fashion accessories company, Amansa Holdings cuts stake in tyre maker

Ashish Kacholia bought shares at an average price of Rs 657.55 per share, amounting to Rs 6.57 crore in Brand Concepts.

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Ace investor Ashish Rameshchandra Kacholia has picked nearly 1 percent equity stake in Indore-based Brand Concepts via open market transactions on December 1.

As per the bulk deals available on the NSE, Ashish Kacholia has bought 1 lakh equity shares, which is equivalent to 0.94 percent of paid-up equity in the company that manufactures luggage, bags, backpacks and fashion accessories.

These shares were bought at an average price of Rs 657.55 per share, amounting to Rs 6.57 crore.

Brand Concepts share price rose 2 percent to settle at Rs 657.55, with significantly high volumes.

RBA Finance also picked 94,192 equity shares in Brand Concepts at an average price of Rs 657.55 per share, whereas Tanam Investment Services offloaded 2 lakh shares in the company at same price.

As of September 2023, Tanam Investment Services held 2.91 lakh shares or 2.76 percent shareholding in the company.

Brand Concepts recorded consolidated net profit at Rs 3.64 crore for the quarter ended September FY24, increasing from Rs 2.96 crore in the corresponding period previous year. Revenue from operations during the same period increased to Rs 68.93 crore, from Rs 44.3 crore.

In the six-month period ended September FY24, profit surged to Rs 6.72 crore, from Rs 4.93 crore in same period last year. Consolidated revenue from operations jumped significantly to Rs 127 crore, from Rs 76.2 crore during the same period.

Meanwhile, Ceat was also in focus, rising 3.4 percent to Rs 2,171.9 on the NSE. Amansa Holdings sold 7 lakh shares of the tyre manufacturing company, which is equivalent to 1.73 percent of paid up equity.

These shares were sold by Amansa at an average price of Rs 2,115.86 per share, amounting to Rs 148.11 crore. Amansa Holdings held 6.93 percent stake or 28.01 lakh shares in Ceat as of September 2023

But Amansa Holdings seems to have sold more shares in last two months (October-November) as in the last disclosure dated November 20th, it offloaded 0.18 percent in Ceat on November 16 and as a result the shareholding stood at 3.09 percent.

The RPG Group company reported consolidated net profit at Rs 208 crore in the quarter ended September FY24, increasing sharply from Rs 7.83 crore in same period last fiscal due to significant improvement in operating numbers with fall in input cost. Revenue from operations increased to Rs 3,053.3 crore, from Rs 2,894.5 crore during the same period.