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Catamaran Ventures buys into Foseco India in block trade
The deal followed a Q1 FY27 update showing revenue up 14.4% year on year to ₹48 crore and net profit up 78.3% to ₹10 crore.
Foseco India saw a block deal on Thursday, with Catamaran Ventures, Narayan Murthy's family office, purchasing 55,978 shares at an average price of ₹5,897 per share, according to data available on NSE, as reported by LiveMint Markets.
The transactions also included other buyers, including Citi Group Global Markets Singapore, LIC Mutual Fund, Morgan Stanley, and Mirae Asset, while seller Morgan Terrassen BV moved to exit by selling its entire stake.
In parallel with the trading activity, Foseco India reported a strong start to FY27, with Q1 revenue rising 14.4% year on year to ₹48 crore from ₹42 crore, and gross profit more than doubling to ₹15 crore. Gross profit margin expanded 17.0 percentage points to 31.2%, while net profit, or PAT, increased 78.3% year on year to ₹10 crore.
Shares of the chemical company have been rising despite broader sentiment, gaining over 18% in a week and 27% in a month, the report said. It added that the stock is up nearly 29% year to date and has delivered 71% returns over three years and 324% over five years.