VST Industries shares jump 4% on sale of immovable property for Rs 101 crore

Shares of Radhakishan Damani’s portfolio stock VST Industries jumped 4% to their intraday high of Rs 328 on the BSE in an early trading session as the company announced the sale of its immovable property in Hyderabad for a consideration of Rs 101. 7 crore.

“We hereby inform you that VST Industries Limited (“Company”) has sold an immovable property today, i.e., 22nd November, 2024 to M/s. ViNS Bioproducts Ltd and others admeasuring around 2.7 acres of land along with structures situated in Plot Nos. 7& 15, Plot No. 8, Plot No. 9 and Plot No. 10 at Panjagutta, Banjara Hills, Hyderabad, Telangana by executing and registering sale deeds,” said the company in an exchange filing.

VST Industries informed that the purchasers are third parties who do not belong to the promoter or the promoter group and the transaction does not fall under the ambit of related party transaction.

The shares of VST Industries are held by ace investor Radhakishan Damani. According to the company’s shareholding pattern, as of September 2024, Damani owns 53,51,850 shares of the company, representing a 3.15% stake in the company.

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In the last one year, the shares of VST Industries have gained 5.7% and 1.7% on a year-to-date basis. The shares, however, have fallen by 15% and 23% in the last 6 months and 3 month respectively, according to the BSE analytics.

Technically, the stock is placed below all its significant exponential moving averages and oscillating near the 37 mark on the RSI, according to the Trendlyne data.

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