Shares of Garden Reach Shipbuilders Ltd. (GRSE) are down for the third straight day on Monday, July14, with another 3.5% drop.The stock has gained only twice in the last 11 trading sessions.
According to the latest shareholding pattern updated by the company on the Bombay Stock Exchange, retail investors trimmed their stake during the April-June quarter.
GRSE now has 3.97 lakh small shareholders, or those with authorised share capital of up to ₹2 lakh, having stake in the company, down from the 4.04 lakh shareholders it had during the March quarter.In percentage terms, the retail investor stake in GRSE is down to 14.89% in June, from 16.72% at the end of the March quarter.
According to the latest shareholding pattern updated by the company on the Bombay Stock Exchange, retail investors trimmed their stake during the April-June quarter.
GRSE now has 3.97 lakh small shareholders, or those with authorised share capital of up to ₹2 lakh, having stake in the company, down from the 4.04 lakh shareholders it had during the March quarter.In percentage terms, the retail investor stake in GRSE is down to 14.89% in June, from 16.72% at the end of the March quarter.
India’s domestic mutual funds have also seen a minor reduction in their stake from 1.64% to 1.4% in June. HDFC MF’s name, which featured in the list of shareholders during the March quarter shareholding, no longer appears in the list, meaning that the fund’s stake in the company fell below the 1% mark.
On the flip side, foreign portfolio investors (FPIs) have increased their stake in the company to 5.33% from 3.84% during the March quarter.
Shares of Garden Reach Shipbuilders are trading 4% lower on Monday at ₹2,688.7. The stock has declined 25% from their recent all-time high level of ₹3,538.4. The stock has lost ₹10,000 crore in market capitalisation, since its recent record high on June 23 this year.
