Kamdhenu Ventures share: There is a selling environment in the stock market for the last few days. Amidst this environment, the shares of paint company Kamdhenu Ventures are also facing lower circuit for five consecutive days. Last Friday, the stock closed at Rs 27.22 with a decline of 10 per cent in intra-day trade on BSE. In the last one week, the company’s share price has fallen by 55 percent from the level of Rs 58.31.
Bombay Stock Exchange asked questions
Bombay Stock Exchange also woke up to the huge fall in the shares of Kamdhenu Ventures. Recently, the stock exchange had asked questions on the decline of the company’s shares. In response, the company clarified that the paint business operations and plants are functioning normally and efficiently. There is no news that affects the current state of the business. According to the company, neither the management nor the promoters of the company are in any way connected to or benefited from such increase or decrease in shares.
Apart from this, Kamdhenu Ventures reiterated that the reason for such sudden negative price change in the shares is not known. Whatever increase/decrease there is in the company’s share price/quantity is entirely due to market conditions and is entirely market driven. The company said that it has no control over these market conditions.
About the company
Let us tell you that Kamdhenu Paints is owned by Kamdhenu Color and Coatings which is a wholly owned subsidiary of Kamdhenu Ventures. Kamdhenu Paints is a leading brand in the Indian decorative paints segment. In the June 2024 quarter, the company had reported a weak 12 per cent year-on-year decline in revenue at Rs 55 crore and a 26 per cent decline in profit at Rs 1.6 crore. The management had said that the decline was mainly due to reduced demand, affected by the general elections and summer. Management expects a strong recovery during the festive season.