Metro Brands Shares Hit 52-week High, Someone Made ₹221 Crore In 1 Day
Metro Brands, an Indian multi brand footwear retail business, experienced a significant rise on Friday and appeared to approach its 52-week high.
Rakesh Jhunjhunwala had invested in this stock. Now the stock has significantly increased thanks to the recent advance in this particular stock. Only during Friday’s fast, Rakesh Jhunjhunwala made Rs 221 crore in profit on this stock.
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The largest shareholder in Metro Brands on the public market is Rakesh Jhunjhunwala. Market analysts believe that Metro Brands’ stock has solid future growth potential.
Looking at the stock’s action, it rose 5.16% on the NSE to close at ₹855.35 in yesterday’s trade. The stock started trading at ₹836.00 yesterday and ended trading at ₹ 813.35 on Thursday.
This stock’s 52-week high is ₹939.90, and its 52-week low is ₹426.00. There are currently 805,390 shares outstanding for the firm. The market value of the company is ₹23,222 crore.
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On December 21 of last year, Metro Brands’ shares were placed on the market. This IPO’s pricing range was between ₹485 and ₹500. This IPO had 3.64 times as much interest.
The stock has so far increased by 76% on the BSE since the debut. The stock has increased 91.5% so far in 2022.
Rekha Jhunjhunwala, the wife of Rakesh Jhunjhunwala, now owns 39,153,600 equity shares, or 14.43%, of the company as of June 30, 2022.
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