Shares of OM Infra were locked in 2% upper circuit on Tuesday as ace investor Vijay Kedia picked up a stake in the company.
What Happened: As per exchange data, Kedia Securities Pvt. Ltd. purchased 24.65 lakh shares of the company through a block deal on Monday (Sept. 4). The deal was executed on the NSE at an average price of ₹61.70.
The total deal’s cost was around ₹15.21 crore. Today, the stock broke its two-session losing streak on the BSE.
The company reported strong numbers for the quarter ended June. The company’s standalone sales grew 125% year-over-year to ₹262.8 crore. The company’s profits for the period stood at ₹16 crore, up 122% from the year-ago period.
The stock is currently under the enhanced surveillance measure (ESM) framework stage 2.
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Price Action: OM Infra’s share price was locked in 2% upper circuit at ₹62.90 on Tuesday.
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