During the September quarter, ace investor Mukul Agrawal cut his stake in Surya Roshni.
What Happened: As per the latest shareholding data, Agrawal sold around 2 lakh shares of the company during the July-September period. At the end of the June quarter, he held around 10 lakh shares or a 1.84% stake in the company. Now, he owns about 8 lakh shares of the company equivalent to a 1.47% stake.
Shares of the small-cap company were on the rise on Friday as it turned ex-spilt. Surya Roshni had announced a stock split in a 1:2 ratio. This means that for every share currently held by investors, it will be divided into two shares. The company had scheduled October 6 as the record date for the stock split.
Surya Roshni’s share price has experienced remarkable growth in the past year, surging over 100%. Furthermore, in the year 2023 thus far, the stock has appreciated by over 80%.
Price Action: Surya Roshni’s share price was up 3.28% to trade at ₹498.75 in the early hours of trading on Friday.
Get all the latest Share Market trends and news to set you up for the week ahead.
Read Next: Why Tata Motor Shares Are Climbing Today
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.