Small Cap Stock Surges 5% As Mukul Agrawal Picks Up 1.16% Stake

Shares of PTC Industries made a comeback at the bourses on Thursday after a three-straight session losing streak.

What Happened: The surge today comes as the company filed its latest shareholding data on Wednesday. As per the data, ace investor Mukul Agrawal picked up a 1.16% stake in the company. His 1.67 lakh shares are worth around ₹127 crore. Earlier in the year, the company also raised funds from another veteran investor Ashish Kacholia. He was allotted 1 lakh shares through preferential issue.

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Shares of the company surged up over 6% to hit an intraday high of ₹7,850. PTC Industries Limited specializes in manufacturing metal components tailored for critical and supercritical applications across various industries. Their products cater to sectors such as Defence, Oil & Gas, Liquefied Natural Gas (LNG), and Ships & Marine, among others.

The stock has had a great run at the bourse in the past year, going up over 150%. However, the small-cap stock has been a little subdued recently. In the last 30 days, the stock has gone down around 3%.

Price Action: PTC Industries’s share price was up 4.68% to trade at ₹7,738.45 on Thursday morning.

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