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Latest News One of Radhakishan S. Damani's portfolio holdings is VST Industries, and as of the quarter that ended in June 2024, the renowned investor owned 5,35,185 fully paid-up equity shares or 3.47% stake in the company's equity.
Cigarettes and raw tobacco are the products of VST Industries Limited's manufacturing and distribution activities. Its production plants are located in Toopran, Telangana, and Hyderabad. Thursday's closing price of Rs 4766.
90 a share for the FMCG stock was positive as it approached the record date for the 10:1 bonus shares. VST Industries Bonus Shares For the purpose of ascertaining the eligibility of members entitled for issue of bonus equity shares of the company, to be approved by members of the company at the ensuing Annual General Meeting, the company has fixed Friday, 6th September 2024 as the record date for allotment of bonus equity shares in the ratio of 10:1 ratio, as per a stock exchange filing. The company's bonus issue is subject to approval of members at the 93rd annual general meeting, which is set for August 29, 2024.
The total number of securities proposed to be issued or the total amount for which the securities will be issued as a part of bonus shares is 15,44,19,200 equity shares having face value of Rs.10/- each. The estimated date by which such bonus shares would be credited/dispatched is subject to obtaining Members approval and other statutory/regulatory approvals, as may be necessary, the Bonus shares shall be credited/dispatched within two months from the date of the Board's approval i.
e., on or before 24th September 2024. VST Industries Financials After posting a PAT of Rs 83.
70 crore in Q1 FY24, VST Industries reported a net profit of Rs 53.58 crore on a standalone basis in Q1 FY25, a 36% drop. Sales reduced by 3.
76% to Rs 320.62 crore in the quarter ending in June 2024 from Rs 333.13 crore in the quarter ending in June 2023.
Profit before tax in Q1 FY25 was Rs 72.28 crore, down from Rs 109.34 crore in Q1 FY24 by -33.
9%. In Q1 FY25, overall operating expenses climbed to Rs 248.05 crore, an 8.
8% boost compared to Q1 FY24. EBITDA declined by 29.86% from Rs.
117.42 crore in the June 2023 quarter to Rs. 82.
36 crore in the June 2024 quarter. From Rs. 54.
20 in Q1FY24 to Rs. 34.70 in Q1FY25, the VST EPS has dropped.
VST Industries Share Price Target Mandar Bhojane - Equity Research Analyst at Choice Broking said, "VSTIND is in a long-term uptrend, currently trading at 4,766.45, near its record-high levels. The stock has consistently formed higher highs and higher lows on the daily chart and it has formed a rounding bottom pattern, indicating a potential breakout from its current range.
This potential breakout is supported by notable trading volumes, suggesting a continuation of the uptrend. After bouncing from its support zones, if the stock sustains above the 4,900 level, it could likely continue its upward trajectory toward new highs. The Relative Strength Index (RSI) is at 70.
62, which suggests that the stock might undergo a time-wise correction or continue to trade sideways with a bias to the upside." "Additionally, VSTIND has recently rebounded from its short-term (20-day) and medium-term (50-day) EMA levels, reinforcing the strength of the current uptrend. In summary, based on the technical analysis and current market conditions, VSTIND offers a compelling buying opportunity above its recent high for investors aiming for higher price targets.
The stock's key support zone near the 4,440 level further strengthens its appeal, as it provides a solid foundation for potential upward movement. However, it is crucial to employ appropriate risk management strategies to safeguard against any downside risk," the analyst commented. Disclaimer The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies.
The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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