SIS soars after 360 One MF and, Abu Dhabi Investment buy stake

SIS surged 6.47% to Rs 442.05 after 360 One Mutual Fund and Abu Dhabi Investment Authority Stable purchased stake via bulk deals yesterday.

As per the bulk deal data on the BSE, 360 One Mutual Fund A/C - 360 One Focused Equity Fund bought 29,84,055 shares (2.07%) at Rs 415 per share. Abu Dhabi Investment Authority Stable bought 21,95,631 shares (1.52%) at Rs 415 per share.

On the other hand, American Funds Insurance Series Global Small Capitalization Fund sold 1,044,696 shares (0.72%) at Rs 415.02 per share. Smallcap World Fund Inc sold 51,81,419 shares (3.59%) at Rs 415.02 per share.

As on June 2024, Smallcap World Fund Inc held 53,00,194 shares, or 3.68% stake in the company.

SIS holds the top position in both security solutions and facility management sectors in India, and is the second-largest player in cash logistics. The company has also established itself as the largest security solutions provider in Australia.

On a consolidated basis, net profit of SIS declined 28.25% to Rs 64.22 crore on 5.14% rise in net sales to Rs 3129.86 crore in Q1 June 2024 over Q1 June 2023.

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