Mauritius-based FII trims stake in multibagger stock that has surged 400% in 2 years

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Mauritius-based FII trims stake in multibagger stock that has surged 400% in 2 years
Mauritius-based FII trims stake in multibagger stock that has surged 400% in 2 years

Africa-Press – Mauritius. Mauritius-based foreign portfolio investor (FPI) Elevation Capital V FII Holdings Limited has booked partial profit in KDDL shares, which is one of the multibagger stocks of Indian stock market in last one year.

As per the NSE bulk deal details, the Mauritius-based FII has sold out 3.60 lakh shares of the company at ₹850 apiece levels. This means, the FII sold KDDL shares worth ₹30.60 crore. The FPI offloaded its stake in the scrip through a bulk deal executed on 26th September 2022.

As per trendlyne, in shareholding pattern of KDDL for April to June 2022, Elevation Capital V FII Holdings Limited holds 10,08,400 shares of the company, which is 7.92 per cent of total paid up capital of the company.

So, after offloading 3.60 lakh shares of the company, the FII now holds 6,48,400 shares of KDDL Limited, which is around 5.09 per cent of total paid up capital of the company.

This means, the Mauritius-based FII has offloaded 2.83 per cent stake in the company. KDDL share price history In last one month, this KDDL share price has appreciated from around ₹895 to ₹928 apiece levels, logging around 3.50 per cent rise in this time.

However, after ushering in new year, this stock has remained under the sell-off heat. In last six months, this stock has dipped 4 per cent whereas in year-to-date (YTD) time, it has slumped by around 7 per cent.

But, despite such sell-off, this stock has doubled shareholders’ money in last one year. In last one year, this multibagger stock has risen from ₹463.90 apiece to ₹928 per share levels, logging more than 100 per cent rise in this period.

Likewise, in last two years, this multibagger stock has surged from ₹186 to ₹928 apiece levels, ascending to the tune of 5 times, delivering 400 per cent return to its shareholders.

So, this multibagger stock has delivered whopping return to its shareholders in post-Covid rally on Dalal Street. KDDL shares ended with a market capital of ₹1,188 crore on Tuesday.

However, the stock had a volume of just 4 on NSE while its last 20 days average trade volume on NSE is 42,394. That means, FIIs trimming stake in the scrip hasn’t gone down well on Dalal Street. KDDL shares’ 52-week high is ₹1,191 on NSE whereas its 52-week low is ₹421.15 per share.

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