Porinju Veliyath buys additional stake in this microcap in Q3

NEW DELHI: Seasoned investor Porinju Veliyath bought an additional stake in in the December quarter, the latest shareholding data suggests.

Veliyath, who leads PMS Equity Intelligence India, held 2,50,000 shares or 2.37 per cent stake in the company as of December 31, 2021. This was 104 basis points higher than 1.33 per cent stake he held in the company at the end of the September quarter.

Veliyath had entered Kerala Ayurveda in the September quarter only, buying 1,40,000 shares.



On Monday, the microcap stock rose 0.89 per cent to hit a high of Rs 67.95 on BSE.

Kerala Ayurveda, the first listed ayurveda company, is a seven-decade-old full-spectrum player in India, with footprint in various wellness resorts, hospitals, clinics, academies, products and services in India and United States.

The company claims to have over 350 classical and proprietary formulations, thousands of acres of herbal farms, a herbal garden and its own manufacturing facilities and R&D centers.

The company reported a loss of Rs 1.36 crore in the September quarter even as its total income jumped to Rs 19.06 crore for the quarter from 14.55 crore in the year-ago period. Promoters held 61.52 per cent stake in the company as of December 31, 2021. The rest of the ownership is largely with small investors and HNIs.



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