Shares of Max India jumped 8 per cent in Friday's trade after Porinju Veliyath, known as smallcap czar, bought 2,30,000 shares of the company in a bulk deal on NSE. The shares were bought on Thursday at a price of Rs 100.31 apiece. Following the development, the scrip climbed 8.29 per cent to hit a fresh record high of Rs 110.35 apiece.
From a June 13 low of Rs 64.50 apiece, the scrip has risen 71 per cent in the six months.
As per data publicly available with Trendlyne, Veliyath publicly held over 1 per cent stake in 16 companies, with a net worth of over Rs. 183.5 crore. Among his biggest holdings are Orient Bell, Hindware Home Innovation, RPSG Ventures, Gati, Aurum Proptech and Shalimar Paints.
The company reported a 5 per cent YoY jump in total income in the first half of FY23 at Rs 107.10 crore. The company reported a loss of Rs 6.9 crore for H1 compared with a loss of Rs 11.4 crore in the same period last financial year. For the September quarter, the company reported a loss of Rs 2.2 crore compared with a loss of Rs 6.4 crore in the year-ago quarter.
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Max India is the holding company of Max Group’s Senior Care business ‘Antara’, and a skilling company ‘Max Skill First’.
Antara, Max India’s flagship company operating in the senior care business, is an integrated service provider for all senior care needs. It operates across two lines of businesses - residences for seniors and assisted care services.
Max Skill First is Max India’s arm responsible for providing skilling solutions to professionals in the sales and services domain. Since its inception, the substantial businesses, or revenues of Max Skill First were generated from the various Max group companies.