Ace investor and billionaire Radhakishan Damani acquired 4.91 lakh equity shares, in Kalyani group company BF Utilities during the quarter-ended June 30.
BF Utilities share price hit 10 percent upper circuit intraday on July 14 after ace investor and billionaire Radhakishan Damani acquired 1.3 percent equity stake.
The stock price jumped over 43 percent in the last 3 months and was trading at Rs 220.95, up Rs 20.05, or 9.98 percent. It has touched an intraday high of Rs 220.95. There were pending buy orders of 40,737 shares, with no sellers available.
The stock also witnessed a spurt in volume by more than 3.35 times and was trading with volumes of 157,712 shares, compared to its five day average of 43,323 shares, an increase of 264.03 percent.
Ace investor Radhakishan Damani acquired 4.91 lakh equity shares in Kalyani group company BF Utilities during the quarter ended June 30. It was the second company, wherein Damani bought fresh shares during the June quarter, as per the latest shareholding pattern available on exchanges.
BF Utilities, which operates in the infrastructure segment, holds 74.52 percent stake in Nandi Infrastructure Corridor Enterprises, 69.53 percent in Nandi Highway Developers and 100 percent in Avichal Resources.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has been efficient in managing assets to generate profits - ROA improving since last 2 years. The company's book value per share has been improving for the last 2 years with FII / FPI or institutions increasing their shareholding.
Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.
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