Mukul Agrawal Picks Up Stake In This Small Cap Stock, Shares Jump 12%

Shares of Prakash Industries soared over 12% on Tuesday to hit a new 52-week high of ₹164.80 on Monday morning.

What Happened: As per the latest shareholding data, ace investor Mukul Agrawal bought 25 lakh shares of the company during the September quarter. He currently holds a 1.40% stake in the company that is worth around ₹40 crore.

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The company filed the data late last week on Friday evening, and since then the stock has surged over 15% in two sessions. Apart from Agrawal, the company also counts Dolly Khanna as an investor. She also picked up the stock during the September quarter buying up around 18 lakh shares of the company.

With a market cap of around ₹2,900 crore, the small-cap company is involved in the Indian steel industry and produces value-added steel products in the country.

Price Action: Prakash Industries’ share price was up 10.87% to trade at ₹162.20 in early trade on Tuesday.

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Posted In: EquitiesMarketsMoversTrading IdeasDolly KhannaMukul AgrawalPrakash Industries