Value investor Safir Anand in June had revealed that he had purchased a stake in DP Wires through a block deal in which the seller was Bollywood legend, Amitabh Bachchan.
What Happened: Anand, took to Twitter, today recalling the event, adding that the stock has made a 50% move in about a month and he felt that ‘Big B’ blessed him.
As per exchange data, Bachchan sold around 90,000 shares of the company at an average price of ₹411.72. However, as per the latest shareholding data, he still owns a 2.07% stake in the company which is valued at around ₹18.6 crore.
The stock has been on a tremendous rally. In the past year, the stock has gone up over 100%. On a year-to-date basis, the stock is up over 50%. With a market cap of around ₹900 crore, the micro-cap company is involved in the production of steel wires.
Price Action: Dp Wires’ share price was up 16.01% to trade at ₹663.95 in the late hours of trading on Thursday.
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