Aditya Vision, a company in which investor Ashish Kacholia holds a 1.87% stake, announced on Wednesday that it will split its equity shares into 10 fully paid shares. This decision was made during a board meeting and shared with the stock exchanges after market hours.
Aditya Vision’s share price closed at Rs 4,572.95 on Wednesday, rising by Rs 93.75 or 2.09%. Earlier in the week, the stock reached a 52-week high of Rs 4,800. Over the past year, the stock has delivered impressive returns of 186%. So far in 2024, it has returned 33%. The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 3,686 and Rs 3,314, respectively, according to Trendlyne data.
The stock’s rally has pushed it into the overbought zone, with a Relative Strength Index (RSI) near 73. An RSI above 70 indicates an overbought condition, while below 30 suggests oversold. Another momentum indicator, the Money Flow Index (MFI), is in the medium range at 61. Despite the strong rally, the stock has remained stable, with a 1-year beta of 0.4, indicating lower volatility.
For the March quarter, Aditya Vision reported a year-on-year increase in net profit to Rs 7.9 crore from Rs 6.8 crore in the same period last year. However, this was lower than the Rs 22.2 crore reported in the previous quarter. The company’s revenue for the March quarter stood at Rs 377.5 crore, up from Rs 308 crore in the same quarter last year but down from Rs 414 crore in the December quarter.
Ashish Kacholia, known for his investment acumen, publicly holds 46 stocks with a total net worth of over Rs 3,238.4 crore.
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