Smallcap defence stock zooms 13% after Mukul Agrawal picks 1% stake

Mukul Agrawal has bought stakes in 3 companies, besides PTC, in the March quarter. He now has a stake of 1.8% and 1.7% in Dredging Corporation of India and West Coast Paper Mills, respectively.

Smallcap defence stock, ’ share price went up by 13% on the BSE to Rs 8,382 on Thursday after ace investor picked up 1.1% stake in the company.

Companies are mandated to release names of shareholders only if their ownership is at least 1%, which is updated in its shareholding pattern. is another individual stakeholder of the company having a 4.6% stake.

Agrawal has also picked up stakes in 3 other companies apart from PTC in March quarter. He now has a stake of 1.8% and 1.7% in and , respectively, while his shareholding in is 5.5%, Trendlyne data revealed.

“As per the latest corporate shareholdings filed, Mukul Agrawal publicly holds 53 stocks with a net worth of over Rs 5,321.0 cr,” stated Trendlyne data .

Earlier in February, PTC Industries had carried out a preferential shares issue for 2.35 lakh equity shares at Rs 6,000 apiece, under which another top investor, Ashish Kacholia, bought 1 lakh shares. Other investors who were allotted the shares include Himalaya Finance and Investment, Naresh Saraaf, Blue Square, Fair and Faith Consultants.

According to the latest shareholding pattern available with the exchanges, promoters own a majority stake of 62.95%, while public shareholders own the remaining 37.05%.

PTC Industries has been manufacturing precision metal components for critical applications for over 60 years. Through its wholly-owned subsidiary Aerolloy Technologies, the company is manufacturing and supplying Titanium and Superalloy castings for aerospace and defence applications within India as well as for exports.

PTC Industries has given a return of 251% to its investors in the past one year and has also been performing well for the past 6 months as well, with positive returns of 54.62%.

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Source: Stocks-Markets-Economic Times