Equity benchmark indices Sensex and Nifty surged in early trade on Monday amid fresh foreign fund inflows and buying in blue-chip stocks.
Shares of Rathi Steel and Power Limited surged over 10 percent on Monday, as the company informed exchanges that its promoter, PCR Holdings, has acquired additional shares to increase its stake by 0.21 percent. Foreign Institutional Investors (FIIs) have a significant stake in this company.
As of December 2024, Foreign Institutional Investors own 8.94 per cent.
As per data till December 2024, the Domestic Institutional Investors (DIIs) hold 2.53 per cent. Promoters hold a 40.32 per cent stake and the remaining 48.22 per cent is held by the general public.
PCR Holdings, formerly known as Archit Securities, has 45,000 equity shares worth Rs 85,06,30,030 in the open market.
“With respect to the acquisition of 45,000 Equity Shares of Rathi Steel and Power Limited(“Company”) by PCR Holdings Pvt. Ltd (Formerly Archit Securities Pvt. Ltd.), member of Promoter Group of the Company, dated March 21, 2025, resulting in increase in its shareholding by 0.21% of its total shareholding in the Company,” the company said in the filing dated March 22.
The counter opened gap up with a gain of 7.36 per cent at Rs 32.80 on the BSE against the previous close of Rs 30.69. It gained further to touch the intraday high of Rs 34 – a gain of 10.78 from the previous close.
The stock has delivered multibagger returns of over 1,500 per cent in the past five years.
Equity benchmark indices Sensex and Nifty surged in early trade on Monday amid fresh foreign fund inflows and buying in blue-chip stocks.
A positive trend in the US markets also powered the rally in the domestic equities.
The 30-share BSE benchmark Sensex jumped 592.78 points to 77,498.29 in early trade. The NSE Nifty surged 169.3 points to 23,519.70.
From the Sensex pack, Power Grid, Kotak Mahindra Bank, Larsen & Toubro, Axis Bank, NTPC, Bajaj Finserv, Reliance Industries and HDFC Bank were the biggest gainers.
