Bollywood megastar Amitabh Bachchan has recently trimmed his stake in DP Wires Ltd, a micro-cap company specializing in steel wire manufacturing. The veteran actor executed an open market transaction, divesting 0.79% of his holding for a total of Rs 2.48 crore.
According to data from the National Stock Exchange (NSE), Bachchan simultaneously acquired 41,566 shares of the Madhya Pradesh-based firm. These shares were purchased at an average price of Rs 199.90 per share, amounting to Rs 83.09 lakh.
Details of Bachchan's Investment in DP Wires
As of the end of the March 2026 quarter, Amitabh Bachchan held a 2.11% stake in DP Wires, representing 3.27 lakh shares. The recent transaction indicates a net reduction in his overall holding, reflecting a strategic portfolio adjustment.
Stock Market Reaction and Performance
Following the news of Bachchan's stake adjustment, shares of DP Wires experienced a positive market reaction. During Thursday's trading, the stock climbed 2.55% to close at Rs 217.15. This surge contributes to a significant five-day rally, with the stock having soared 22.37% over the past week.
From a technical analysis perspective, DP Wires' shares are currently trading above all key Simple Moving Averages (SMAs), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day marks. The 14-day Relative Strength Index (RSI) for the stock stood at 74.72, signaling that the stock is in overbought territory.
Company Profile and Financial Metrics
DP Wires Ltd is primarily engaged in the manufacturing of steel wires, which find applications across various industrial sectors. Data from Trendlyne indicates that the company has a standalone price-to-earnings (P/E) ratio of 11.34 and a price-to-book (P/B) value of 1.41. Its Earnings Per Share (EPS) is reported at 11.34, with a Return on Equity (RoE) of 7.34. The stock's one-year beta is 1.06, suggesting relatively higher volatility compared to the broader market.