Shaily Engineering hits record high on stake hike by HDFC Small Cap Fund

Shaily Engineering Plastics hit a record high of Rs 1,510, up 8%, extending its Wednesday’s 6% gain on the BSE after HDFC Mutual Fund increased its stake in plastic products company by more than one percentage points through open market.

On April 25, 2018, HDFC Small Cap Fund had purchased 99,134 equity shares representing 1.2% stake in Shaily Engineering Plastics at price of Rs 1,300 per share, the BSE bulk deal data shows.

The name of the sellers not ascertained immediately.

As of March 2018, HDFC Small Cap Fund held 372,756 shares or 4.48% stake in Shaily Engineering Plastics.

Investor, Ashish Kacholia has also hold 460,785 shares or 5.54% stake in the company, the shareholding pattern data shows.

The stock price of Shaily Engineering Plastics has been more than doubled in past six months, up 133% against 4.3% rise in the S&P BSE Sensex.

At 11:49 am; it was trading 6% higher at Rs 1,482 as compared to 0.12% rise in the benchmark index. Around 23,000 shares changed hands on the counter against an average 14,000 shares were traded daily in past two weeks on the BSE.