20% Upper Circuit: Stock jumps 20% after promoters disposed over 5% stake via open market

SYNOPSIS: Shish Industries promoters sold a 5.06 percent stake via open market transactions to deleverage personal finances, while retaining majority control and reaffirming confidence in the company’s operations, stability, and growth outlook.

During Wednesday’s trading session, shares of a company involved in the manufacturing, trading and marketing of PP sheets and rolls hit a 20 percent upper circuit on NSE, after the company’s Promoters disposed of more than 5 percent stake via the open market.

With a market cap of Rs. 537.4 crores, shares of Shish Industries Limited hit a 20 percent upper circuit at Rs. 14.16 on NSE, as against its previous closing price of Rs. 11.8. The stock has delivered negative returns of more than 13 percent in one year, but has gained by around 58 percent in the last one month.

What’s the News:

According to the latest disclosures filed with the BSE, part of the Promoters/Promoter Group of Shish Industries Limited, Mr. Satishkumar Dayabhai Maniya and Mr. Rameshbhai Virjibhai Kakadiya, have sold a total of 1,93,34,050 equity shares through open market transactions, representing approximately 5.06 percent of the company’s paid-up equity share capital.

Following the transaction, the Promoters/Promoter Group continues to retain a controlling stake of 60.55 percent in Shish Industries Limited.

The promoters have clarified that the sole purpose of the share sale was to deleverage their personal balance sheets, with the proceeds being utilised exclusively for the repayment and closure of personal financial liabilities.

They further stated that the transaction was undertaken purely to meet personal liquidity requirements and does not reflect any change in their confidence in the company’s business operations, financial position, or long-term growth outlook. The promoters also confirmed that the sale was not driven by any material non-public information.

Financials & More:

Shish Industries reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 32 percent, from Rs. 22.6 crores in Q2 FY25 to Rs. 29.77 crores in Q2 FY26. Likewise, the company’s net profit increased during the same period from Rs. 1.84 crores to Rs. 2.15 crores, representing a rise of nearly 17 percent YoY.

Shish Industries Limited is primarily engaged in the business of manufacturing, trading and marketing of PP (polypropylene) corrugated sheet and rolls, insulation and building products, industrial packaging products, consumer products, etc. 

Written by Shivani Singh

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