Ashapura sees spurt in investor interest
Market is abuzz with speculation that a leading industrialist has recently bought a large chunk of shares in Ashapura Minechem in his personal capacity.
By TNN |
Market is abuzz with speculation that a leading industrialist has recently bought a large chunk of shares in Ashapura Minechem in his personal capacity. The purchases are said to have been made through open market trades. Over the years this industrialist has bought small stakes in several companies as personal investments, including ONGC and ICICI Bank.
Ashapura Minechem is India’s largest mining and mineral processing conglomerate. For the March quarter, the company doubled its profits (Rs 39 crore), while the income from operations grew by 45% to Rs 318 crore. The company, which is the largest exporter of bauxite, has seen a healthy growth in volumes and has also introduced newer products during the past quarter. Share prices have gained 11% over the past week and 49% in the last month to end at Rs 379 as of Tuesday. As per published information on the BSE, Reliance Mutual had brought 9 lakh shares of the company last month.
Ashapura Minechem is India’s largest mining and mineral processing conglomerate. For the March quarter, the company doubled its profits (Rs 39 crore), while the income from operations grew by 45% to Rs 318 crore. The company, which is the largest exporter of bauxite, has seen a healthy growth in volumes and has also introduced newer products during the past quarter. Share prices have gained 11% over the past week and 49% in the last month to end at Rs 379 as of Tuesday. As per published information on the BSE, Reliance Mutual had brought 9 lakh shares of the company last month.
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