An analysis of institutional ownership in penny stocks, as defined by those with market capitalisation below Rs 1,000 crore and share price below Rs 25, shows that FIIs hold over 10% stake in a dozen such counters. Out of them, 7 have given double-digit returns in FY24 so far.
As much as 67.73% of the shareholders at the AGM voted in favour of the special resolution, while 32.27% voted against. "The resolution was defeated as it needed to be supported by 75% of the total voting," the company said in a regulatory filing on Saturday.