Vikas Multicorp shares price hit upper circuit after Albula Investment Fund buys 72 lakh shares

Vikas Multicorp | Albula Investment Fund acquired 72 lakh equity shares in the company at Rs 7.6 per share on the BSE.

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Vikas Multicorp share price hit 5 percent upper circuit on BSE on December 2 after Albula Investment Fund acquired 72 lakh equity shares of the company.

According to a BSE filing, Albula Investment Fund acquired 72 lakh equity shares of the company at Rs 7.60 per share.

The stock was trading at Rs 7.98, up Rs 0.38, or 5.00 percent. It has touched an intraday high of Rs 7.98 and an intraday low of Rs 7.26.

The stock has surged over 200 percent in the last 6 months. Mauritius based Albula Investment Fund Ltd earlier bought 35 lakh shares at an average price of Rs 8.30 in BSE. Vikas Multicorp had earlier announced that it had constituted an advisory board consisting of eminent personalities with the purpose of providing guidance and act as a sounding board to the senior leadership team in the company including the Board of Directors, the company said in a statement.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge. FII / FPI or institutions are increasing their shareholding.

However, Moneycontrol technical rating is bearish with moving averages being bearish and technical indicators being neutral.