@M_K_Srikanth I was holding this stock couple of months back and booked profits after wards I have not tracked this stock.
Just had a look at it today . Fundamentals are good for this company however the recent issue with Polycab have scared investors/promoters I guess. Ultracab had received large order in Nov 2023 from Sterling and Wilson Private Limited of around Rs 47.78 crore for supply of LT AB Cable. This supply project will be completed by Mar 2025 as per news reports.
Stake sale by promoters is nothing to be surprised about. Several promoters pared stake and booked part profits in 2023, as markets climbed new highs. But promoters need to disclose such trades, which is the missing link in Ultracab. Apart from this point I dont see any issue.
PS: I am not holding any Ultracab shares now.
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