Shares of BCL Industries, a small-cap brewery and agro-processing company, jumped over 5% on the BSE after promoter Kushal Mittal increased his stake through open-market purchases. This marked the second consecutive day of gains, with the stock rising to a high of ₹39.06, extending its rally to over 10% during this period.
Mittal acquired 2,47,000 shares on March 3 and 4, increasing his stake from 16.27% to 16.35%. Prior to this, he had also purchased 1,56,826 shares on February 28, signaling a positive outlook for the company’s future.
Despite the recent surge, BCL Industries’ stock has faced challenges, losing 47% of its value over the past year and declining 33% in the last six months. The company’s financial performance has been mixed, with a 37% year-on-year decline in net profit to ₹19.2 crore during the third quarter of FY25, although revenue from operations rose by 18.2% to ₹737 crore.
A recent positive development for BCL Industries was securing an order worth ₹134.87 crore from oil marketing companies (OMCs) for the supply of ethanol, which could potentially boost investor confidence and contribute to growth moving forward.
While the increase in promoter stake often signals optimism, market analysts will be closely monitoring whether sustained buying trends confirm a reversal in the stock’s fortunes.
