Shares of Arrow Greentech surged over 18% on Thursday to hit an intraday high of ₹424.70.
What Happened: Shares of the company are soaring today as veteran investor Porinju Veliyath picked up a stake in the company. As per the latest shareholding data, – filed on Wednesday evening – Veliyath bought around 1.59 lakh shares of the company. His 1.06% stake is worth around 6.2 crore.
The development helped the stock micro-cap stock halt its two-day losing streak. The stock has been on a tremendous run this past year, with shares going up over 200%.
With a market cap of around ₹580 crore, the micro-cap company is engaged in the business of bio-degradable (green) products. It has manufacturing units in India and in the United Kingdom via its subsidiary Arrow Green Technologies (UK) Limited.
Price Action: Arrow Greentech’s share price was up 15.04% to trade at ₹413.45 in early trade on Thursday.
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