Faze Three Auto continues to trade on a firm note amid higher than average volume
SI Reporter | Mumbai
Last Updated at September 30, 2021 13:32 IST
Shares of Faze Three Auto zoomed 17 per cent to a high of Rs 132 on the BSE on the back of relatively higher volume, after an ace investor bought a stake in the company.
According to BSE bulk deals data, ace investor Ashish Rameshchandra Kacholia bought 450,000 shares at an average price of Rs 288.80 in trades on the BSE on Wednesday. Similarly, Ajay Anand acquired 250,000 shares at an average price of Rs 288.20.
On the other hand, Salim Pyarali Govani sold 734,184 stocks at an average price of Rs 288.92 on the BSE.
The stock continues to trade on a firm note, and was up 13.5 per cent at Rs 128. The counter has seen trades of around 50,000 shares as against the two-week average of 6,150-odd shares on the BSE. Meanwhile, the BSE Sensex was down 0.40 per cent (221 points) at 59,192.
For the quarter ended June 2021, the company had reported flat growth in net profit at Rs 3.11 crore from Rs 3.06 crore in the preceeding quarter. Total income, however, was down 19.9 per cent at Rs 32.4
crore from Rs 40.48 crore.
Faze Three Autofab Limited is an automotive fabric division of the Faze Three group. The company was erstwhile a joint venture between Faze Three Group and Aunde Achter and Ebels GmbH. The company has been established in 1999 and a leading supplier of automotive fabrics to all major OEMs in India and globally.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Thu, September 30 2021. 13:29 IST