Mukul Agrawal Picks Up Stake In This Micro Cap Stock, Shares Jump 4%

Shares of Prakash Pipes halted the two-straight session losing streak on Thursday morning going up over 4% to hit an intraday high of ₹412.

What Happened: The company filed its latest shareholding data on Jan.3, Wednesday. As per the filing, ace investor Mukul Agrawal now holds 2.51% or 6 lakh shares of the company. His stake is worth around ₹24 crore.

Apart from Agrawal, Dolly Khanna also owns a stake in the micro cap company. She holds 3.14% or 7.5 lakh shares of the company. However, her shareholding in the company decreased from September. At the end of the September quarter, she held a 3.24% stake in the company.

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With a market cap of around ₹950 crore, the company manufactures a wide range of products such as agricultural pipes, column pipes, plumbing pipes, casing pipes, SWR pipes, garden pipes, and their associated fittings.

In the last six months, the stock has surged up over 135%.

Price Action: Prakash Pipes’s share price was up 3.98% to trade at ₹409.90 in early trade on Thursday.

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Posted In: EquitiesMarketsMoversTrading IdeasDolly KhannaMukul AgrawalPrakash Pipes