Porinju Veliyath Raises Stake In This Micro Cap Stock

Ace investor Porinju Veliyath‘s Equity Intelligence India picked up a 1.36% stake in Aurum Proptech during the April-June quarter.

What Happened: Veliyath, famously known as the Czar of small-cap stocks, already held a 2% stake in the company at the end of the March quarter and now as per the latest filing, his firm picked up another 1.36% stake. Shares of the property tech company saw a sudden spike as soon as the disclosure was made.

See Also: Why Are SpiceJet Shares Plunging Today?

The stock was reeling in the red in early trade on Wednesday but shot up as soon as the disclosure was made at around 12 pm. Shares of the company surged up over 6.5% to hit an intraday high of ₹135.

The company is scheduled to release its earnings for the quarter ended June on July 18.

Price Action: Aurum Propetch’s share price was up 2.69% to close at ₹129.95 on Wednesday.

News that Moves

Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.

Read Next: Is ChatGPT Down In India Right Now? Find Out Here

Posted In: EquitiesMarketsMoversTrading IdeasPorinju Veliyath