This Micro-Cap Ayurveda Stock Rises Almost 4% As Porinju Veliyath Increases Stake

Renowned investor and fund manager Porinju Veliyath increased his shareholding in the Ayurveda company Kerala Ayurveda Ltd (BO:KEAY), in the quarter ending December


According to the latest shareholding data released by the microcap stock, ace investor Porinju Veliyath held a total of 2.5 lakh shares of the company, increasing his stake in the company from 1.33% to 2.37% at the end of Dec 2021.

Veliyath had initially bought 1.4 lakh equity shares of Kerala Ayurveda in the September quarter. 

As a result of this development, shares of the microcap stock spurred 3.93% to Rs 70 apiece on the BSE at 10:45 am on Monday.

In the September-ending quarter, the country’s first listed Ayurveda company reported a 31% jump in total income to Rs 19.06 crore on a YoY basis, yet reporting a loss of Rs 1.36 crore.

Besides, in the December-ending quarter, Porinju Veliyath sold 29,441 equity shares of the IT service management company Danlaw Technologies India Ltd (BO:DNLW), priced at Rs 248.9 apiece through bulk deals on the BSE.

Read More : https://in.investing.com/news/this-microcap-ayurveda-stock-rises-almost-4-as-porinju-veliyath-increases-stake-3039066


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