This is the second straight day when the counter has gained amid the market volatility. The market cap of the company is Rs 1,141 crore.
Shares of ethanol manufacturer BCL Industries gained over 5 per cent on Wednesday as one of the promoters acquired additional stake through the open market. The counter opened in green at Rs 38.69 on the BSE against the previous close of Rs 37.05. The counter gained further to touch the high of Rs 39.06 – a gain of 5.42 per cent from the closing price of the previous session.
The 52-week high of the smallcap stock is Rs 74 and the 52-week low is Rs 34.50. The market cap of the company is Rs 1,141 crore. The stock has delivered a return of over 10 per cent in these two days.
On technical parameters, the stock is trading higher than 5-day moving averages but lower than 20-day, 50-day, 100-day and 200-day moving averages.
The momentum in the stock comes as the company has informed exchanges that Kushal Mittal, one of the promoters, has purchased 2.47 lakh additional shares of the company through the open market in the previous two trading sessions. According to the information shared, the transaction took place on Mach 3 and March 4.
This is the second straight day when the counter has gained amid the market volatility.
Meanwhile, equity benchmark index Sensex reclaimed the crucial 73,000-mark by jumping over 900 points, and the Nifty was trading above the 22,000 level in afternoon trade.
The 30-share BSE Sensex benchmark zoomed 943.87 points or 1.29 per cent to 73,933.80 at 1245 hours in afternoon trade. On the similar lines, the NSE Nifty appreciated by 312.25 points or 1.41 per cent to 22,394.90.
From the Sensex pack, Adani Ports, Power Grid, Mahindra & Mahindra, NTPC, Tech Mahindra, Tata Steel, Tata Motors, Bharti Airtel, Asian Paints, HCL Technologies, Infosys, Reliance Industries and Kotak Mahindra Bank were among the gainers.
On the other hand, Bajaj Finance, HDFC Bank, IndusInd Bank and Zomato were the only laggards.
