Small-cap stock under ₹50 jumps 5% as promoter raises stake in brewery company

Small-cap stock under ₹50: Shares of BCL Industries rose over 5% after the company promoter raised a stake in the brewery company via the open market.

In an exchange filing, dated March 5, promoter Kushal Mittal revealed that he purchased 2,47,000 shares of BCL Industries on March 3 and March 4 through a secondary share purchase.

Ahead of the share purchase, Mittal held 480,39,865 shares or a 16.27% stake in the company, which increased to 482,86,865 shares or a 16.35% stake following the acquisition of stock.

Stock gains for 2nd day

BCL Industries stock gained 5.42% to the day's high of ₹39.06 on the BSE. With today's gains, the stock has extended its rally to the second straight session on Wednesday, rising over 10% during this period.

However, despite today's rise, the performance has been quite dismal as the small-cap stock has eroded 47% of its value in a year and 33% in the last six months. Meanwhile, over three months, it has declined 31% and 18% in one month, showed data available on Trendlyne.

BCL Industries earnings

During the third quarter of the financial year 2024-25 (FY25), BCL Industries witnessed a 37% year-on-year (YoY) decline in net profit to ₹19.2 crore even as its revenue from operations witnessed an 18.2% jump to ₹737 crore.

The company's return on capital employed declined to 13.73% in March 2024 from 15.47% in March 2023 and 29.11% in March 2022.

Latest order win

The company. last month on February 19, announced that it won an order from oil marketing companies (OMCs) for supply of ethanol to various locations across the country. The order supply value amounted to ₹134.87 crore.

"The Company along with its subsidiary, in its normal course of business, has been allocated with additional quantity of 23054 KL of Ethanol to be supplied against FCI rice as raw material," BCL Industries had said in a filing.

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