Praveg Ltd Share Price (531637)

Praveg Ltd Promoter Group Increases Stake Amid Share Drop - 22 Mar, 2024

The promoter group of Praveg Ltd increased its stake in the company through nine trades after a 30% drop in shares. The company recently secured an order for developing and managing 50 tents at Agatti Island, Lakshadweep, with plans to expand to 50-60 resorts by 2028.

Praveg Ltd Shares Jump 10% on Work Order from Lakshadweep Tourism Department - 14 Mar, 2024

Praveg Ltd shares rose by 9.08% after receiving work orders for the operation and maintenance of 350 tents in Bangaram and Thinnakara Islands from the tourism department of the Union Territory of Lakshadweep. The company will develop, operate, maintain and manage at least 150 tents at Bangaram Island and 200 tents at Thinnakara along with other commercial facilities such as scuba diving, destination wedding, corporate functions, private events, health and wellness centre, play area and coffee shops. The execution period for both work orders is five years, extendable by two years.

Goldman Sachs India Equity Portfolio Acquires Stake in Praveg Ltd - 12 Mar, 2024

Praveg Limited, an event management company that has recently ventured into hospitality and operation management, saw Goldman Sachs India Equity Portfolio acquire a 2.18% stake after promoter Patel Ashaben Vishnukumar offloaded 2.85%. In Q3FY24, the company reported net sales of Rs 33.07 crore, up from Rs 28.38 crore in December 2022, but net profit fell nearly 30% to Rs 8.10 crore.