BofA sold shares at a price of Rs 338.65 apiece which was marginally lower than the previous closing price of Rs 339.30 on the BSE.
Both Bank of America (BofA) and Societe Generale were existing shareholders in the company prior to today’s deal. While BofA held 26,63,119 equity shares representing 1.38% stake in Tilaknagar through BofA Securities Europe SA – ODI as on September 30, 2024, Societe Generale’s holding stood at 1.83%, which accounted for 35,30,800 shares in the same period.
Promoted by Dahanukar Family, the company is primarily involved in the manufacturing and sale of Indian Made Foreign Liquor (IMFL) and extra neutral alcohol. The Company has a diverse portfolio of brands in various liquor categories, including brandy, whisky, vodka, gin, and rum.
Tilaknagar Industries shares have rallied nearly 25% in the past one year which is better than the 1-year returns of Nifty in the same period at 19%. In 2024 so far, its returns stand at 43% which is significantly higher than Nifty’s 8% returns on the year-to-date basis.
The stock is currently trading above its 50-day and 200-day simple moving averages (SMA) of Rs 307 and Rs 254, respectively.At 88, stock’s momentum indicator (MFI) shows that the stock is trading in an overbought zone. Meanwhile, RSI is hovering near the 64 mark. A number above 70 is seen to be overbought while below 30 is considered as oversold.The stock has traded with considerable volatility, with its 1-year bata at 1.2 as reported by Trendlyne.
The company reported a consolidated revenue of Rs 378 crore for the quarter ended September, which is growth of 6.6% over the corresponding quarter of the last financial year. Its profit after tax (PAT) stood at Rs 58 crore in Q2FY25, which is a jump of 57.2% on the year-on-year basis.
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