Upper circuit buzz: Rakesh Jhunjhunwala and Sunil Singhania makes fresh entries in this multibagger micro-cap stock; keep a close eye!
Adding intrigue to the story, Rare Enterprise, founded and owned by the late Shri Rakesh Jhunjhunwala, acquired 90,006 shares of
Wednesday marked a remarkable trading session for the Indian benchmark indices, with both Nifty and Sensex surging over 1 per cent, reclaiming the significant levels of 20,000 on Nifty and approaching the 67,000 milestone on Sensex. The broader market indices also reflected the positive sentiment, with Nifty Small-Cap gaining 1.03 per cent and Mid-Cap adding 0.81 per cent.
Amidst this buoyant market backdrop, one stock that captured the spotlight was the micro-cap company, Him Teknoforge Ltd, boasting a market cap of 115 crores. Established in 1973, Him Teknoforge engages in the manufacturing, sales, distribution, and marketing of automotive, non-automotive, and engineering components.
This particular stock witnessed a significant surge, hitting the upper circuit limit of 20 per cent. With this robust movement, it has now become a multibagger, posting an impressive 100.93 per cent gain from its 52-week low.
Adding intrigue to the story, Rare Enterprise, founded and owned by the late Shri Rakesh Jhunjhunwala, acquired 90,006 shares of Him Teknoforge Ltd at an average price of Rs 107. Additionally, Valueworth Advisors LLP, with Kanchan Sunil Singhania as the designated partner (and wife of ace investor Sunil Singhania), also entered the fray, purchasing 1,00,000 shares at an average price of Rs 104.
The question on everyone's mind now is whether this stock will evolve into a mega bagger in the future. Share your thoughts in the comments section below.
Disclaimer: The article is for informational purposes only and not investment advice.
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