Ishan Dyes spurts after Shankar Sharma buys stake

Ishan Dyes & Chemicals rose 16.25% to Rs 161 after well-known investor Shankar Sharma on Tuesday bought 7 lakh shares, or 4.38% equity, of the company via bulk deal on the BSE at Rs 121.71 per share.

On Tuesday (8 February 2022), Standard Greases and Specialities bought 1 lakh shares, or 0.63% equity, of Ishan Dyes & Chemicals at Rs 123 per share on the BSE. Standard Greases & Specialities is a leading lubricating grease manufacturer in Asia.

Further, Piyushbhai Natvarlal Patel sold 20 lakh shares, or 12.52% equity, of Ishan Dyes & Chemicals at Rs 123.83 per share on the BSE.

 

Piyushbhai Natvarlal Patel is one of the company's promoters. He held 24.86% stake in the company as on 31 December 2021.

Total promoter holding in the company stood at 58.52% as on 31 December 2021.

Ishan Dyes & Chemicals manufacture a range of solvent dye which does not ionize. Its solvent pigments are commonly called as Iysochrome pigments. Its net profit rose 9.09% to Rs 5.04 crore on 36.86% decline in net sales to Rs 15.16 crore in Q3 December 2021 over Q3 December 2020.

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