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What is the story about?
Shares of PG Electroplast are down 3% on Wednesday, January 11, extending their losses for the 11th straight session. This is the longest losing streak for the stock in its trading history on the bourses.
The stock has been on a losing spree since January 5, when it had closed at levels of ₹630, having gained for the fourth day in a row. Since then, the stock has given up all of those gains.
PG Electroplast shares have declined 16% during the last 11 trading sessions at the current price.
Small retail shareholders, or those with authorized share capital of up to ₹2 lakh, trimmed some of their stake in PG Electroplast during the December quarter, as per the latest shareholding pattern uploaded on the exchanges by the company on the BSE.
As many as 2.18 lakh retail shareholders had a 16.5% stake in PG Electroplast at the end of the December quarter, compared to the 18.78% stake that 2.45 lakh retail shareholders that had a 18.78% stake in the company at the end of the September quarter.
This is the first instance since December 2024, that retail investors have trimmed their stake in the company.
On the flip side, India's Mutual Funds have increased their stake in the company. Mutual Funds now own a 18.68% stake in the company, compared to 14.48% in the September quarter.
ICICI Prudential Balanced Advantage Fund (3.77%), Nippon India FLE (2.54%), Franklin India Flexi Cap Fund (3.37%), Axis Mutual Fund (1.47%), Motilal Oswal Smallcap 250 Index Fund (4.21%) are some of the prominent funds holding stake in the company.
Shares of PG Electroplast are recovering from the lows of the day, currently trading 2.2% lower at ₹539.8. The stock had gained 14% in the October-December period.
The stock has been on a losing spree since January 5, when it had closed at levels of ₹630, having gained for the fourth day in a row. Since then, the stock has given up all of those gains.
PG Electroplast shares have declined 16% during the last 11 trading sessions at the current price.
Small retail shareholders, or those with authorized share capital of up to ₹2 lakh, trimmed some of their stake in PG Electroplast during the December quarter, as per the latest shareholding pattern uploaded on the exchanges by the company on the BSE.
As many as 2.18 lakh retail shareholders had a 16.5% stake in PG Electroplast at the end of the December quarter, compared to the 18.78% stake that 2.45 lakh retail shareholders that had a 18.78% stake in the company at the end of the September quarter.
This is the first instance since December 2024, that retail investors have trimmed their stake in the company.
On the flip side, India's Mutual Funds have increased their stake in the company. Mutual Funds now own a 18.68% stake in the company, compared to 14.48% in the September quarter.
ICICI Prudential Balanced Advantage Fund (3.77%), Nippon India FLE (2.54%), Franklin India Flexi Cap Fund (3.37%), Axis Mutual Fund (1.47%), Motilal Oswal Smallcap 250 Index Fund (4.21%) are some of the prominent funds holding stake in the company.
Shares of PG Electroplast are recovering from the lows of the day, currently trading 2.2% lower at ₹539.8. The stock had gained 14% in the October-December period.
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