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Small cap stock to mull bonus shares this week, FIIs and mutual funds raises stake in Q3


Sirka Paints India Limited is a consumer durables-focused Small-Cap company with a market capitalization of 1,761 crore. Sirka Paints is a main maker of Wood Coatings and Wall Paint in India. The company has made it known to the stock exchanges that the board of directors will meet this week to talk about giving bonus shares to shareholders who are eligible.

“We are pleased to inform you that a meeting of the Company’s Board of Directors will be held on Wednesday, March 29, 2023, in reference to the subject matter captioned, to consider, among other things, the following: 1. resulting modifications to Clause V of the company’s Memorandum of Association to take into account the increase in the company’s Authorized Share Capital, subject to the approval of the members; 2. proposal to issue bonus shares with the members’ and other necessary approvals’ approval; 3. any other business with the Chairman’s permission. Additionally, we wish to inform you that as of March 22, the trading window for dealing in SIRCA Paints India Limited equity shares will remain closed for all Designated Persons of the Company and their immediate relatives in accordance with the Insider Trading Code. For the fiscal year 2022-2023, from March 31, 2023,” Circa Paints India stated in a stock exchange filing.

The business reported a net income of Rs. during the quarter that ended in December 2022. 66.18 crore was reported in the quarter that ended in December 2021, compared to 54.56 crore. Compared to Rs., the company’s net expense in Q3FY23 was 52.01 crore. 42.34 Cr in the third quarter of FY22, and its EBIT reached 14.17 Cr in the third quarter of FY23, compared to 12.22 Cr in the same quarter of FY22. Sirka Paints India said its net benefit of Rs. 10.53 Cr in Q3 FY23, versus Rs. 9.16 crore in the previous quarter, and its EPS was 3.34, up from 3.84 in Q3FY23 and 3.84 in Q3FY22, respectively.

Sirka Paints India shares on NSE on Friday 644.80 each level, down 1.11% from the past close 652.05. Compared to the 20-day average volume of 32,193 shares, the stock’s overall volume average was 61,834 shares. The stock has increased by 40.46 percent in one year and decreased by 4.79% in 2023. The stock’s 52-week high was 800.90 on December 14, 2022, and its 52-week low was 402.35 on May 26, 2022. These levels indicate that the stock’s current market price is 19.49% lower than its one-year high and 60.25 percent higher than its one-year low.

AR Ramachandran, Co-Founder & Trainer at tips2trades, stated, “Vinegar Paints is fundamentally a good stock with good return ratios despite slowdown in profit growth in the last three years.” This was in reference to the technical outlook of Sirka Paints India. However, investors should hold off on making new purchases until lower levels between 550 and 557. At 686, there will be strong resistance.”

The company reported a promoter shareholding of 67.55 percent, a FII shareholding of 5.59 percent, a DII shareholding of 4.41 percent, and a public shareholding of 22.45 percent during Q3FY23. According to Trendline data, promoters held 67.55% of Sirka Paints India in the December 2022 quarter. FII/FPI increased their stake from 1.97 percent in the Sep 2022 quarter to 5.59 percent in the Dec 2022 quarter. The number of investors increased from 8 in the second quarter of FY2023 to 13 in the third quarter of FY2023. Mutual funds increased their holding from 3.81 percent in the second quarter of FY2023 to 4.34 percent in the third quarter of FY2023. Institution


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