Nile Ltd. has recently been in the spotlight as Chennai-based ace investor Dolly Khanna’s name surfaced in the company’s latest shareholding pattern. According to the data for the April to June 2024 quarter, Khanna now holds a 1.10%stake in the company. Interestingly, her name was absent from the list of individual shareholders in the January to March 2024 quarter, indicating that she purchased fresh Nile shares during Q1FY25. As a result, Nile’s share price was expected to come under the bulls’ radar following this significant news.
True to expectations, Nile’s share price opened with an upside gap today and reached an intraday high of ₹2,388 on the NSE. This surge helped Nile’s stock achieve a new lifetime high during Tuesday’s trading session.
Dolly Khanna’s addition to Nile’s portfolio has drawn considerable attention from investors. Over the past month, Nile’s share price has soared from ₹1,287 to ₹2,388 per share, marking over a 75% increase. Over the last six months, the stock has risen from ₹1,022 to ₹2,388, registering approximately a 125% increase. Year-to-date, this multibagger stock has surged nearly 160%
In the span of one year, the small-cap stock has escalated from around ₹755 to ₹2,388 per share, achieving an impressive 200 percent rise. Over the past five years, Nile’s share price has jumped from nearly ₹243 to ₹2,388 per share, recording an astonishing 825 percent increase.
Dolly Khanna now owns 32,923 shares of Nile Ltd., which constitutes 1.10% of the company’s total paid-up capital. Her absence from the shareholding list in the January to March 2024 quarter suggests that she either acquired these shares in Q1FY25 or held a position below one percent at the end of March 2024, which did not necessitate disclosure. According to exchange rules, companies must disclose the names of shareholders owning one percent or more of the company’s shares.
Following the significant price movement, the BSE sought clarification from Nile Ltd. regarding the sharp surge in its stock price. In response, the company stated, “We are not aware of the reasons for our Company’s share price movement. All relevant information is being publicly disseminated in a timely manner. There is no undisclosed price-sensitive information.”
This sharp uptick in Nile’s stock price, combined with the involvement of a high-profile investor like Dolly Khanna, has undoubtedly generated considerable interest in the market. Investors are keenly observing how this development will impact Nile’s future performance and whether the company can sustain its remarkable growth trajectory. The involvement of such a prominent investor often brings a wave of confidence, potentially attracting more interest and investment in the stock.
The market’s reaction to Khanna’s stake in Nile Ltd. underscores the significant influence that well-known investors can have on stock prices. Her strategic investment decisions are closely followed by many, and her entry into Nile has certainly boosted investor sentiment. As Nile continues to attract attention, its stock performance will be closely monitored by market participants looking to capitalize on its growth potential.
