Stake Buy: Geekay Wires shares surge 3.7% after its promoters increase stake

Synopsis:  Steel wires manufacturer saw its promoter buy in 39520 equity shares of the company via the market, this is going to be the second quarter where the same promoter has increased her stake in the company that witnessed a 35 percent QoQ revenue growth.

A microcap stock surged by 3.7 percent, where the company is in the business of manufacturing Galvanized Steel Wires and Nails, witnessed one of its promoters buy an additional stake in the company via a market purchase. With a market cap of Rs 364 Cr, Geekay Wires Ltd saw its stock hit an intraday high of Rs 35 which is 3.7 percent higher than the previous close of Rs 33.75.

What’s the News?

On Friday, Geekay Wires Ltd announced that the company promoter Mrs. Ritika Kandoi, who also happens to be an immediate relative of a Director has purchased 39,520 equity shares of the company, through market purchases. The purchase value stands at Rs 13,83,200 with today’s high of Rs 35. 

The company’s promoters stake has already increased in the Q2FY26 when compared to the previous quarters, the stake went up from 58.42 percent in March 2025 to 58.69 in September 2025, and the continued purchase of stake from the promoters’ side reflects upon strong confidence they have in their company.

Incorporated in 1989, Geekay Wires Ltd is engaged in the manufacturing of galvanized steel wires and nails. The company serves a diversified client base comprising leading corporations such as L&T, BHEL, Godrej, GMR Group, Tata Group, Power Grid Corporation, among others.

In the latest quarter the company saw a YoY revenue growth of 0.3 percent, going from Rs 123 Cr in Q2FY25 to Rs 124 Cr in Q2FY26, while the QoQ went up by 35 percent from Rs 91 Cr in Q1FY26.

The Net Profits fell by 9.2  percent, from Rs 9.20 Cr in Q2FY25 to Rs 8.35 Cr in Q2FY26, while the QoQ growth stood at 16 percent from Rs 7.19 Cr in Q1FY26. Moreover, the company has a 3 year profit CAGR of 58 percent and the stock has given a compounded 3 year return of 66 percent.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Stake Buy: Geekay Wires shares surge 3.7% after its promoters increase stake appeared first on Trade Brains.