V-Mart Retail fell 2.33% to Rs 258 at 11:29 IST on BSE after the central bank restricted foreign institutional investors from buying additional shares in the company as their shareholding has reached the limit.
Meanwhile, the BSE Sensex was up 60.63 points, or 0.29%, to 20,913.10.
On BSE, so far 2,889 shares were traded in the counter, compared with an average volume of 30,831 shares in the past one quarter.
The stock hit a high of Rs 263 and a low of Rs 255.60 so far during the day. The stock hit a record high of Rs 300 on 17 February 2014. The stock hit a record low of Rs 104 on 4 June 2013.
The stock had outperformed the market over the past one month till 25 February 2014, rising 3.63% compared with the Sensex's 1.33% fall. The scrip had outperformed the market in past one quarter, gaining 15.37% as against Sensex's 1.20% rise.
The small-cap company has an equity capital of Rs 17.96 crore. Face value per share is Rs 10.
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On Tuesday, 25 February 2014, the Reserve Bank of India (RBI) notified that the foreign share holding through foreign institutional investors (FIIs) in V-Mart Retail has crossed the overall limit of 24% of its paid-up capital. Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs.
As at 31 December 2013, FIIs held 15.13% stake in V-Mart Retail.
Meanwhile, on Tuesday, 25 February 2014, Kotak Mahindra (International) sold 2.52 lakh shares, or 1.40% equity, of V-Mart Retail at Rs 250.03 per share on NSE.
As on 31 December 2013, Kotak Mahindra (International) held 7.71 lakh shares, or 4.29% equity, in the company.
V-Mart Retail reported 36.9% rise in net profit to Rs 14.10 crore on 63% rise in net sales to Rs 195.40 crore in Q3 December 2013 over Q3 December 2012.
V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities including Sultanpur, Ujjain, Motihari. It primarily operates in Tier-II and Tier-III cities, with a chain of 'value retail' departmental stores offering apparels, general merchandise and kirana, catering to the entire family. Based in New Delhi, its operations are spread across northern, western and eastern parts of India.
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