Shares of FII-Backed Stock Below Rs 10 Rally 17%: Do You Own?

East West Holdings is a small-cap company in the transportation industry. An Indian business named East West Holdings Limited offers logistical services. For forty years, East West Holdings Limited has offered logistical solutions. The stock opened today on the BSE at Rs 5.80 apiece and rallied to clock an intraday gain of Rs 6.84 during the morning deals logging in a gain of 17.93%.

East West Holdings Financials

The company reported a consolidated net income of Rs 43.69 Cr in the quarter ended 30th September 2023 compared to Rs 59.68 Cr in the year-ago quarter. Its net expenses stood at Rs 40.85 Cr in Q2FY24 compared to Rs 57.82 Cr in Q2FY23. The company said its EBIT reached Rs 2.85 Cr in the quarter under review as against Rs 1.86 Cr in the year-ago quarter. The consolidated net profit of the company stood at Rs 0.11 Cr in Q2FY24 as against a loss of Rs 0.14 Cr in the year-ago quarter.

East West Holdings Share Price History

In the last 1 year the stock has gained 32.36% and on a YTD basis, it has rallied 16.07% so far in 2023. The stock climbed 63.61% over the previous six months and 29.09% over the last month. The stock has surged 16.27% during the previous five trading sessions. The shares of East West Holdings reached a 52-week-high of Rs 7.47 on (12/12/2022) and a 52-week-low of Rs 3.83 on (29/03/2023), indicating that at the current market price, the stock is trading 77.28% up from its 1 year low and 9.10% below its 1 year high.

East West Holdings Shareholding Pattern

During Q2FY24, the company reported promoters' shareholding of 61.28%, FIIs stake of 6.78% and public stake of 31.94%. During the quarter, Ag Dynamic Funds bought 8,650,000 shares or 6.78% stake in the company. In the firm whose promoter pledges are zero, promoter holdings climbed by 0.70% as promoters' holdings grew from 60.58% in Q1FY24 to 61.28% in Q2FY24.