Page Industries declines as its promoters reduce stake to 49%

Page Industries is currently trading at Rs. 11226.55, down by 328.65 points or 2.84% from its previous closing of Rs 11555.20 on the BSE.

The scrip opened at Rs. 11637.70 and has touched a high and low of Rs. 11637.70 and Rs. 10399.70 respectively. So far 5964 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 16995.00 on 01-Jun-2015 and a 52 week low of Rs. 9770.25 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 11944.95 and Rs. 10399.70 respectively. The current market cap of the company is Rs. 12098.38 crore.

The promoters holding in the company stood at 51.00% while Institutions and Non-Institutions held 39.70% and 9.30% respectively.

Page Industries’ promoters have sold nearly 2% stake of the company during current month through open market. The promoters and directors of the company i.e. Sunder Genomal, Nari Genomal and Ramesh Genomal, have sold collectively 222,500 equity shares or 2.01% stake of the company on March 10 and March 18. Smallcap World Fund Inc bought 162,500 shares of Page Industries at Rs 11,600 on March 18.

Post transaction, total promoters holding in the company declined to 49% from 51% at the end of December 2015 quarter.

Page Industries is engaged in the business of manufacturing garments. The company is located in Bangalore and is the exclusive licensee of Jockey International Inc (USA) for manufacture and distribution of the Jockey brand innerwear/ leisurewear for men and women in India, Sri Lanka, Bangladesh, and Nepal.