Quant Mutual Fund, AG Dynamics Fund remain steady on this small-cap stock. Do you own?

Institutional investors Quant Mutual Fund and AG Dynamics Fund maintained their stake in the small-cap stock Lancer Container Lines during the second quarter of the financial year 2024-25 (Q2FY25), signalling continued confidence in the company.

According to the latest shareholding pattern, Quant Mutual Fund held 57,80,096 shares of Lancer Container Lines at the end of the September quarter. This was the same number of shares it held at the end of the June quarter.

Similarly, AG Dynamics Fund Limited also kept its stake unchanged at 57,24,000 shares in Q2FY25.

On the other hand, retail investors increased their holdings in Q2, purchasing an additional 38,710 shares of Lancer Container Lines. Their total holding grew to 1,00,749 shares, up from 62,039 shares at the end of Q1FY25.

Other Developments

The company's board of directors is scheduled to meet on Wednesday, November 13, to review and approve the standalone and consolidated financial results for the quarter ended September 2024.

In the first quarter of the current fiscal year (Q1FY25), Lancer Container Lines posted a 14.2% year-on-year (YoY) decline in net profit, which fell to ₹12 crore from ₹14 crore. However, the company’s revenue from operations increased by 4.8% YoY, rising to ₹172 crore from ₹164 crore.

Recently, the company also announced that its board has approved a proposal to raise funds through a rights issue. The board authorised the issuance of equity shares with a face value of ₹5 each, on a rights basis, for a total value not exceeding ₹150 crore.

In its upcoming meeting tomorrow, the board will also consider an "important decision" related to the rights issue, as indicated in an exchange filing earlier this month.

Lancer Container Lines' share price has declined 61% over the past year, although it has gained 5% in the last month. Today, the stock rose 3% to a high of ₹35.65 on the BSE.

Lancer Container Lines operates in the logistics sector as a shipping agency, providing NVOCC (Non-Vessel Operating Common Carrier) services across Asia, Africa, Latin America, and CIS countries. The company also offers a range of related services, including project and freight forwarding, as well as container trading and leasing.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.