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Arvind SmartSpaces Spurts After Quant MF Buys Stake

Picture Source: Internet

On the Bombay Stock Exchange (BSE), Arvind SmartSpaces jumped 9.02 per cent to Rs 244.65 after acquiring shares of Quant Mutual Fund’s 1.18 per cent stake in the company on a bulk deal. Yesterday, Quant Mutual Fund purchased 5 lakh shares, or 1.18 per cent equity, of Arvind SmartSpaces at Rs 228.5 each. Meanwhile, Kamal Shamlal Singal sold six lakh shares and 1.41 per cent of company equity shares at Rs 228.5 per share. Kamal Shamlal Singal held 6,94,744 shares or a 1.64 per cent stake in Arvind SmartSpace as on June 2022.

This company is a corporate real estate development company in India with approximately 26 million square feet across the country. Pune, Ahmedabad, Gandhinagar and Bangalore are the countries that have real estate development all over India. On a consolidated basis, the company’s net profit has surged to Rs 7.24 crore in the first quarter of FY23 compared with the first quarter of FY22 ended in June 2021, to Rs 2.50 crore. The net sales rose by 123.60 per cent to Rs 60.26 crore in the first quarter of FY23 over the previous quarter of FY22.

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