MIT Raises Stake In This Multibagger India Micro Cap Stock To Over 6.8%

This story was first published on the Benzinga India portal.

Massachusetts Institute of Technology raised its stake in India-listed Calcom Vision during the June quarter.

As per the latest shareholding data, the U.S.-based institute bought another 114,000 shares of the company. As per an exchange filing, the shares were allotted to the institute on a preferential basis at a price of ₹157 ($1.80) per share. The total cost of this acquisition came in at around $220,000.

With this acquisition, MIT now holds a 6.84% stake in the company. With a market cap of around $26.8 million, the micro-cap company is involved in the business of manufacturing lighting electronics.

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Over the last three years, the stock has given multi-bagger returns to investors. The stock has gone up from ₹25-₹30 per share levels in July 2020 to the current levels of ₹170 apiece.

As per a statement released last week, Calcom Vision achieved quarterly sales of ₹33.08 crore in the June quarter up 10% as compared to the corresponding quarter of the previous year.

Price Action: Calcom Vision’s share price was down 0.03% to trade at ₹168 in the late hours of trading on Monday.

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