Nippon India Mutual Fund Increases Stake in Small-Cap Engineering Stock Close to Rs.1,000
Nippon India Mutual Fund has announced a raise in its stake in ISGEC Heavy Engineering, a small-cap stock with a price under Rs. 1000 in India.
Nippon India Mutual Fund was holding 35,53,688 shares of the small-cap company, which represented a 4.83% stake by the end of December 2024. The fund house purchased the stake by open market transactions.
Nippon Life India Trustee Limited A/c bought 8,32,923 shares by its multiple schemes of Nippon India Mutual Fund. It represents a 1.13% stake in ISGEC Heavy Engineering. The fund house now owns 43,85,591 shares of the company, amounting to a 5.96% stake
Nippon Life India Trustee Limited A/c bought 8,32,923 shares through its multiple schemes of Nippon India Mutual Fund. It represents a 1.13% stake in ISGEC Heavy Engineering. The fund house now owns 43,85,591 shares of the company, amounting to a 5.96% stake.
ISGEC Growth amid Market Volatility
Over the last year, the stock has hiked 15% and in the last 5 years it has surged 177.30%, delivering multi-bagger returns to the investors.
The small-cap has struggled this year as the Indian stock market is witnessing downturns. Although the scrip has lost 32% since the beginning of the year, it still managed to perform better than the BSE benchmark Sensex, which was down by 5%
Performance of ISGEC in the third quarter
Isgec Heavy Engineering Ltd. serves many industries, including fertilizer, power, oil and gas, steel, cement, etc. It provides engineering solutions for industrial projects.
In the third quarter of the financial year 2024-25, the company’s profit was cut down by 65% as compared to Rs. 66.58 crore in the same period last year. The company’s revenue in the third quarter was Rs. 1496.66 crore, which was almost the same as in the last year, i.e., Rs. 1492.52 crore.
