Reliance Picks Up Stake In This Micro Cap Stock, Shares Jump 5%

Shares of Vishnusurya Projects And Infra Ltd surged up close to 5% on Wednesday to hit a new 52-week high of ₹80.45.

What Happened: The surge today comes as Reliance Commercial Finance Ltd. purchased around 7.88 lakh shares of the company on Tuesday. The acquisition of shares was done through a bulk deal on the NSE at an average price of ₹73.59. The total cost of the deal was around ₹5.79 crore.

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Apart from Reliance, Authum Investment & Infrastructure Ltd also bought a considerable stake in the company. The 12 lakh shares were also acquired through a bulk deal on the NSE at an average price of ₹76.56. The total cost of the deal was around ₹9.18 crore.

Vishnusurya Projects and Infra Limited’s shares made their debut on the NSE SME platform on Tuesday. The company was listed at ₹73 per share, which was 7.4% higher than the issue price of ₹68. The Vishnusurya Projects and Infra IPO opened on Friday, Sept. 29, and concluded on Thursday, Oct. 5. The IPO was oversubscribed by 44.11 times.

Price Action: Vishnusurya Projects And Infra Ltd‘s share price was locked in 5% upper circuit at ₹80.45 on Wednesday morning.

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