In a bulk deal, Ashish Kacholia sold 1.6 lakh equity shares of SJS Enterprises Ltd, equating to a 0.51% stake. The bulk deal took place at an average price of ₹653.22 per share amounting to over ₹10 crore. Ashish Kacholia held a 3.23% stake in the company as of September 2023 quarter.
SJS Enterprises makes a wide range of aesthetic products catering to segments including two-wheelers, passenger vehicles, commercial vehicles, consumer durables, and appliances.
The company manufactures self-adhesive labels like automotive dials, overlays, exterior decals for two and four-wheelers, badges and logos for the automotive, electronics, and appliance industries.
The company expanded its product portfolio to include in-mould decorating and aluminium badges.
It is possible that Ashish Kacholia was spooked by the promoter selling and has lost confidence in the Company.
Promoters Evergraph Holdings and Sanders Consulting sold nearly 30% in SJS. Of this 30%, Evergraph Holdings sold around 29.5%, while Sanders Consulting sold the remaining.
Evergraph Holdings held 51.33% stake as of 30th June which is now down to 4.6% as of September 2023.