Madhusudan Kela’s wife-owned samllcap stock jumps 21% in 2 days

Madhuri Kela, the spouse of Madhusudan Kela, has acquired an additional 1.67% stake in Sangam India, a textile and apparel firm, at an average price of INR268 per share. This has contributed to the company’s stock prices soaring 21% on BSE in just two days. Madhuri’s public shareholdings stand at four stocks with a net worth of over INR65 crore. Despite the company’s declining Q4FY23 net profit of INR30 crore, down 44% YoY, its total income for FY23 stands at INR2,729 crore, up 11.6% compared to FY22.