Sula Vineyards slides after block deal

On the BSE, 1.82 lakh shares of the company were traded in the counter so far as against an average trading volume of 82,000 shares in the past two weeks.

On the NSE, 1.32 crore shares of the company were traded in the counter so far as against an average trading volume of 64,127.08 shares in the past three months.

The 52-week high for this stock is 534.70, which was reached on 01 August 2023. The 52-week low for this stock is 305.55, which was hit on 26 December 2022.

According to media reports, Verlinvest Asia Pte is planning to sell its 13.1% stake in Sula Vineyards through block deal worth around Rs 540 crore. Singapore-based investment company is expected sell 1.1 crore shares on Thursday at a discount of 3.8% compared to Wednesday's closing price. As on 30 June 2023, Verlinvest Asia PTE held 18.6% stake in country's largest wine maker.

In the past three months, the stock has jumped 16.16% while the benchmark Sensex has added 3.91% during the same period.

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.

The company consolidated net profit jumped 24.4% to Rs 13.68 crore on 17.7% increase in net sales to Rs 108.49 crore in Q1 FY24 over Q1 FY23.

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