Morgan Stanley sells 19 lakh shares worth Rs 81 lakh in this penny stock

Morgan Stanley sold over 19.30 lakh shares in Kesoram Industries for Rs 81 lakh on Friday via block deal. The penny stock was sold at a price of Rs 4.20 per share which was at an 11% discount from Thursday’s closing price of Rs 4.70.

Shares of Kesoram Industries today ended at Rs 4.50 on the BSE, down by Rs 0.20 or 4.26% and a fresh 52-week-low.

ETMarket’s selection criteria for a scrip to fall in the penny stock category is a market capitalization below Rs 1,000 crore, a share price under Rs 20, and a minimum trading volume of 5 lakh shares.

The stock’s market capitalisation on BSE stood at Rs 139.79 crore with average traded shares over the last two weeks at 43,000.

Kesoram Industries witnessed other deals as well where Mundhra Homes Private Limited sold over 40.81 lakh shares at a price of Rs 4.24 per share. Meanwhile, Devi Traders LLP sold 15.63 lakh shares at Rs 4.29 and Ishaan Tradefin LLP off-loaded over 49.52 lakh shares for Rs 4.26 per share.

Kesoram was founded in 1919 under the name of Kesoram Cotton Mills. It started as a cotton textile mill in Kolkata and expanded into the production of rayon.The stock has fallen by 97.55% in the past one year, falling even more in 2025 so far.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)