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PE ratio often acts as an anchor when investors are making investment decisions. The reason it is easy to calculate narrative has been going in the market for ages that it lower the PE, cheaper the stock. Given the huge difference in what is value and what looks cheap due to one financial ratio, more often than not, relying on PE may lead to wrong investment decisions.
Three promoters Usha Reddy Chigarapalli, Anitha Reddy Dwaram, and Kavitha Reddy Gangapatnam sold 11.2 lakh shares or 3.64 percent shareholding in MTAR Technologies.
The average buying price paid by Societe Generale for 1.35% stake in MTAR was Rs 1,880 per share.
KDDL, MTAR Technologies, RateGain Travel Technologies, and HealthCare Global Enterprises participated in bulk and block deals transactions. Foreign investors such as Societe Generale and Elevation Capital V Ltd were part of the deals.
The Board of Directors of MTAR Technologies Limited, at its meeting held today have approved the financial results of the company for the period ended March 31, 2023 - Q4FY23 and FY2023.