Infra stock hits 10% lower circuit after company stops power generation and distribution businessInfra stock hits 10% lower circuit after company stops power generation and distribution business

Introduction:

Leading infra company has decided to exit the power generation and distribution sector, altering its Memorandum of Association. The company will focus on trading building materials and expand into manufacturing metal products and solar mounting structures.

Also Read: Stocks To Watch For Budget 2025

Share price movement of SG Mart:

On January 24, 2025, SG Mart Ltd opened at ₹375.00, down 2.99% from its previous close of ₹386.85. The stock reached a low of ₹348.20 and a high of ₹375.00. By 12:02 PM, it traded at ₹349.80, a 9.58% decrease, with a market cap of ₹3,926.68 crore.

SG Mart Stops Power Business:

SG Mart Limited has announced that it will cease its power generation and distribution business, as reflected in the changes proposed to its Memorandum of Association (MOA). The company will focus exclusively on trading building materials moving forward.

In a Board meeting held recently, the directors discussed the alteration of the MOA’s object clauses. As part of this change, the company decided to exit the energy sector, where it previously focused on power generation and distribution.

The Board also proposed the addition of new business activities, including the manufacturing of metal products and solar mounting structures. This shift will help the company tap into the growing renewable energy sector for future expansion.

Ace investor holding in SG Mart:

Neera Gupta

Neera Gupta holds a 9.94% stake in SG Mart Ltd, amounting to 11,160,000 shares valued at ₹390.5 crore. This significant holding reflects her prominent position in the company’s shareholder structure.

Ashok Kumar Gupta

Ashok Kumar Gupta holds a 1.00% stake in SG Mart Ltd, with 1,127,584 shares valued at ₹39.5 crore. His shareholding highlights his involvement in the company’s ownership structure.

Stock performance of SG Mart for Period of 1 week, 6 months and 1 year:

SG Mart Ltd has seen a 6.26% return over the past week and a 6.60% return over six months. However, its performance over the past year has declined by 33.0%, reflecting ongoing challenges.

Also Read: Best Sectors To Watch For Budget 2025

Shareholding pattern of SG Mart:

All values in %	Dec 2024	Sep 2024	Jun 2024
Promoter	40.70%	40.80%	41.00%
FII	6.20%	5.30%	5.60%
DII	1.60%	1.60%	0.50%
Public	51.50%	52.30%	52.90%

About SG Mart:

SG Mart Limited (NSE: SGMART) offers a diverse product range, including steel construction products, tiles, cement, bath fittings, and paints. It is expanding its business through strategic acquisitions and exploring new market opportunities for growth.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.