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Amitabh Bachchan Sold DP Wires’ Stocks

26 May 20233 mins read by Angel One
Amitabh Bachchan's discerning eye for success goes beyond selecting blockbuster movies or hosting the cherished television show Kaun Banega Crorepati (KBC).
Amitabh Bachchan Sold DP Wires’ Stocks
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Amitabh Bachchan, the legendary Shahenshah of Bollywood. Renowned for his illustrious film career, his charm extends far beyond the silver screen. Behind the scenes, Bachchan possesses a Midas touch that transcends mere cinematic brilliance, reaching into the realms of investments and financial prowess. 

Amitabh Bachchan’s discerning eye for success goes beyond selecting blockbuster movies or hosting the cherished television show Kaun Banega Crorepati (KBC). Hidden beneath his larger-than-life persona lies a true maven of the equity markets. His attraction for investing in stocks is no secret, and it has led him down a path of extraordinary wealth accumulation. 

Much like the characters he portrays on screen, Bachchan possesses an innate ability to identify opportunities that yield bountiful returns. With his strategic investment choices, he has transformed and managed to make abundant money from the stock market. It seems that his magnetic presence extends even into the elusive world of finance, where he skilfully weaves his own success story. 

As per the update, Amitabh Bachchan held 332,800 shares of DP Wires Ltd as of the quarter ended March 31, 2023. However, in a recent development, on May 25, 2023, in a bulk deal, Amitabh Harivansh Rai Bachchan sold 89,185 shares of DP Wires Ltd on NSE at an average price of Rs 411.72. 

DP Wires Ltd is a leading steel wire manufacturer in India. As of FY2 – 84% of total revenue came from Wire Division, the Trading Division contributed 14% and the Plastic Product Division contributed 2%. 

The product portfolio of the company includes LRPC Strands, Induction Tempered Wire, Steel Wire, and Geomembrane Sheet. 

DP Wires stands among India’s top 3rd largest manufacturers of LRPC Strands which find their application in different construction works. But it is yet to be answered what is LRPC strand and how exactly is it useful at a construction site. 

The stock made a low of Rs 41.15 in March 2020 and made a lifetime high of Rs 502.80 last year. The Board meeting is scheduled for May 30 to consider and approved the audited financial results of the company for the period ending March 31, 2023. The stock has delivered 10x returns from its March 2020 lows. 

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