Bollywood superstar Amitabh Bachchan has recently reshaped his investment in D.P. Wires Ltd., a manufacturer specializing in LRPC strands, steel wires, and geomembrane sheets. The move comes as the company's stock has seen a substantial decline of 68% from its peak in November 2023.
Adjusting His Portfolio
According to corporate database AceEquity, Bachchan executed a block deal this week, selling 1,23,622 shares of D.P. Wires at an average price of Rs 200.84 per share, fetching approximately Rs 2.48 crore. Concurrently, he also acquired 41,566 shares of the same company at Rs 199.90 apiece, totaling Rs 83 lakhs.
Prior to these recent transactions, data indicated that Bachchan had maintained a stake of 2.11% in D.P. Wires for the past four quarters, equivalent to 3,27,590.00 shares. Despite the recent adjustments, he continues to hold shares in the company.
DP Wires' Volatile Journey
D.P. Wires, which initially went public on the SME platform in FY18, migrated to the mainboard on January 17, 2020. The stock reached its all-time high of Rs 681.45 on November 17, 2023. However, since then, it has experienced a sharp correction, falling 68% from that peak.
As of Thursday's trading, the stock saw a 3.11% rise to Rs 216.99. The company also announced a 1:7 bonus issue for shares in November 2023, which may have influenced its performance and shareholder activity.
Bachchan's Long-Term Holdings
Amitabh Bachchan has been a public shareholder in D.P. Wires since at least the March quarter of 2018, when he held 3,32,800 shares, representing a 2.45% stake. His holding saw a low of 1.47% in the September 2023 quarter before the more recent adjustments.