Porinju Veliyath buys shares of this multibagger smallcap stock
2 min read . Updated: 24 Jan 2023, 10:47 AM IST
Premium- The multibagger stock has rallied more than 116% in a year's period
Indian ace investor and stock market trader Porinju V Veliyath has picked up fresh stake in small cap company Priti International Ltd, which has a market capitalisation of over ₹173 crore on the NSE. Priti International shares were trading more than a per cent lower at ₹149 apiece on the BSE in Tuesday's early deals.
As per the recent shareholding pattern on the NSE and data analysed by Trendlyne, Porinju Veliyath has bought 1.3% stake which constitutes of 150,000 equity shares in Priti International Ltd during the third quarter ended December 2022 of the current fiscal (Q3 FY23). The investor did not hold any stake in the company in the previous quarter of September 2022.
Priti International shares have given multibagger return of more than 116% in a year's period, from trading around ₹69 per share to currently hovering at ₹150 apiece level on the NSE. Operating in the home furnishing segment, Priti international is a furniture manufacturer brand which manufactures variety of wood furniture products and decor products.
Porinju V Veliyath, who is known for portfolio is closely tracked by the market participants, publicly holds 15 stocks with a net worth of more than ₹161 crore, as per the data by stock analytics platform Trendlyne.
Meanwhile, the well-know investor also picked up fresh stake in another small cap company Max India during the quarter under review. As per the shareholding pattern of Max India for recently ended December 2022 quarter, Porinju Veliyath's name has appeared in the list of individual shareholders of the company. The shareholding data of the company shows that Veliyath holds 1.05 per cent stake in the company. Max India Ltd is the holding company for Max Healthcare, Max Bupa Health Insurance and Antara Senior Living. It is part of the multi-business conglomerate, Max.