Rupa & Company surged 10.88% to Rs 288 after Abakkus Emerging Opportunities Fund-1 bought 1.50% stake in the company via bulk deal on Monday, 28 December 2020.
As per the bulk deal data on the NSE, Abakkus Emerging Opportunities Fund-1 purchased 12 lakh shares, or 1.50% equity, of Rupa & Company on Monday, 28 December 2020.
Simultaneously, Suvichar Advisors sold 12.99 lakh equity shares (1.63% equity) of Rupa & Company at Rs 250.55 per share via bulk deal on the NSE. As of 30 September 2020, Suvichar Advisors LLP held 2.30% stake in Rupa & Company.
Abakkus Emerging Opportunities Fund - 1 is owned by market veteran, Sunil Singhania. Singhania floated his portfolio management service firm, Abakkus Asset Management in August 2018. Before Abakkus, he worked as a CIO of Reliance Mutual Fund.
Updated Dec 29, 2020 | 08:49 IST
Jindal Stainless board to meet to consider and review the recommendations of a committee to explore and evaluate options of reorganization and consolidation of its stainless steel businesses Stocks to track in trade for December 29, 2020: Wipro, 3i Infotech, Biocon, GE Shipping, DLF, AU Small Finance Bank | Photo Credit: BCCL
Key Highlights
Wipro s share buyback programme will begin today
PE firm Apax to acquire 3i Infotech’s software products business
Wipro
IT services major Wipro s share buyback programme will commence on December 29 and close on January 11, 2021. In November, shareholders had approved the buyback plan for the purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. The company has set December 11, 2020, as the record date for determining eligibility for the buyback.
Shares of smallcap companies were on a roll at the bourses on Tuesday with the S&P BSE Smallcap index hitting 31-month high after domestic mutual funds and insurance company acquired select companies share from open market. SORIL Infra Resources, Paisalo Digital, Fineotex Chemical, Rupa & Company, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods were up between 10 per cent and 20 per cent on the BSE in intra-day trade. The S&P BSE Smallcap index hit an intra-day high of 18,089, its highest level since May 10, 2018. The index surpassed its previous high of 17,967, touched on December 17, 2020. Among individual stocks, Paisalo Digital hit a fresh record high of Rs 745, up 19 per cent on the BSE. In the past four trading days, the stock of the finance company rallied 53 per cent after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.