
Shares of Prakash Industries were trading in the red on Wednesday even as ace investor Dolly Khanna bought an additional stake in Prakash Industries in the March 2025 quarter. As per BSE shareholding data, Khanna raised her stake to 2.07% in the March 2025 quarter from 1.28% stake in the December 2024 quarter. This amounted to an addition of 0.79% stake in the last quarter.
Khanna held 22.95 lakh shares of the iron and steel maker in the December quarter. However, that count went up to 37.13 lakh in the March 2025 quarter.
In the third quarter too, Khanna raised her stake in the company. Dolly Khanna's stake climbed 0.11 per cent during Q3. Khanna held 22,95,178 shares, representing 1.28 per cent stake in the company at the end of the December quarter as against 21,00,178 shares or 1.17 per cent stake at the end of the September quarter.
Meanwhile, share price of Prakash Industries slipped 2% to Rs 160 today compared to the previous close of Rs 162.65.
The stock opened higher at Rs 164.85 on BSE. The stock has lost 8% in last one year and fallen 5.37% in six months. The stock has risen 205% in two years and 561% in five years.
The multibagger stock is trading neither in the oversold nor in the overbought zone, indicates its relative strength index (RSI) at 54.1.
The stock is trading lower than the 5 day, 10 day, 150 day, 200 day but higher than the 20 day, 30 day, 50 day and 100 day simple moving averages.
Prakash Industries is engaged in the production of ferro alloys, MS TMT/MS coil and allied products, HB Wire Rod, and PVC Pipe and Sockets. The company's segments include power, steel and PVC pipe. the company's product range includes sponge iron, power, wire rod, thermo mechanically treated (TMT) bars and rigid polyvinyl chloride (PVC) pipes.
Its plants are located in Champa, District Janjgir-Champa, and Raipur in Chhattisgarh.