Prominent investor Porinju V. Veliyath bought 5 lakh shares in Fratelli Vineyards through bulk deals at ₹109.70 per share, amounting to a total investment of ₹5.5 crore.
Following the purchase, Fratelli Vineyards’ stock surged approximately 5%, reaching the upper circuit limit and trading at ₹115.15 .
This activity comes amid a challenging phase for the company. In Q1 FY2025, Fratelli reported a consolidated net loss of ₹5.8 crore, an improvement from an ₹11 crore loss in Q4 FY2024, yet down sharply from a ₹2.7 crore net profit in Q1 FY2024. Revenues also fell 80% year-on-year to ₹29 crore from ₹144.2 crore. Over the past year, the stock has tumbled between 66% to 72%.
The investment arrives on the heels of recent GST reforms under GST 2.0, which introduced a 40% tax slab for “sin goods” such as alcohol, potentially impacting the sector dynamics.
