Kamdhenu Ventures shares:There has been a sell-off in the stock market for the past few days. Amidst this environment, the shares of paint company Kamdhenu Ventures have also been hitting a lower circuit for five consecutive days. Last Friday, the stock closed at Rs 27.22 on the BSE with a fall of 10 percent in intra-day trading. In the last one week, the company's share price has fallen by 55 percent from the level of Rs 58.31.

Bombay Stock Exchange asked questions

The Bombay Stock Exchange also took notice of the sharp fall in the shares of Kamdhenu Ventures. Recently, the stock exchange had asked questions about the fall in the company's shares. In response, the company clarified that the paint business operations and plants are working normally and efficiently. There is no such news that affects the current state of the business. According to the company, neither the management nor the promoters of the company are involved or benefited in any way from such increase or decrease in the share.

Further, Kamdhenu Ventures reiterated that the reason for such a sudden negative price change in the shares is not known. Any increase/decrease in the price/volume of the company's shares is entirely due to market conditions and is completely market driven. The company said that it has no control over these market conditions.

About the Company

Let us tell you that Kamdhenu Paints is owned by Kamdhenu Color & Coatings which is a wholly-owned subsidiary of Kamdhenu Ventures. Kamdhenu Paints is a leading brand in the Indian decorative paints segment. In the June 2024 quarter, the company reported a weak income with a 12 per cent year-on-year decline in revenue to Rs 55 crore and a 26 per cent decline in profit to Rs 1.6 crore. The management had said that this decline was mainly due to the decline in demand, affected by the general elections and the heat. The management expects a strong recovery during the festive season.