Porinju Veliyath buys a stake in the shares owned by LIC. Share hits the top circuit

0

Portfolio of Porinju Veliyath: Despite the strong fluctuations in the stock markets, the ace investor made very few changes to his portfolio from April to June 2022. However, he added a new stock in his portfolio, which is microcap in size and Life Insurance Corporation ( LIC) from India participated in the scrip as well. Porinju Veliyath invested in the counter through his wife Litty Thomas. After Porinju Veliyath announced an investment in microcaps stock, the stock hit the upper circuit today.

Participation of Porinju Veliyath in TCM

In line with TCM’s shareholding scheme from April to June 2022, Porinju Veliyath invested in the microcap stock on behalf of his wife Litty Thomas. His name appears among the individual shareholders of the company. She owns 2,15,000 shares or a 2.88% stake in the scrip. However, according to the company’s shareholding scheme for the period from January to March 2022, his name was missing from the list of individual shareholders of the company. This means that the “small cap stock czar” added this stock to his portfolio during the April to June quarter of 2022. However, it cannot be established whether any ace investor in the Indian stock market bought these stocks in once or in a calibrated way, because the shareholding model does not give details on the purchase and sale of shares.

LIC stake in TCM

In accordance with the company’s shareholding scheme for the period April to June 2022, LIC holds 7,92,617 shares, or 10.60% of the company’s total paid-up capital.

TCM stock price history

TCM shares have reached the upper circuit over the past four sessions. It has provided about 55% return to its shareholders over the past month. However, the stock was consolidated from May to mid-June 2022. Since the beginning of the year, it has generated a return of 13.50% while in the last year it has only returned a return of 21% to its shareholders.

This stock has a market capitalization of 35 crores only while its current trading volume is only 971. So, this new Porinju Veliyath stock is a low-float microcap stock, which is suitable for high-risk traders.

Catch all the trade news, market news, breaking news and latest updates on Live Mint. Download the Mint News app to get daily market updates.

More less

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.

Share.

Comments are closed.