Shares of Parag Milk Foods Ltd. surged over 11% on Monday after Sixth Sense India Opportunities bought a 0.58% stake in the maker of Go Cheese via a bulk deal.
Sixth Sense India Opportunities bought 6.8 lakh shares at Rs 121.23 apiece, according to the bulk deal data available with the National Stock Exchange.
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Shares of the company surged 11.33% to Rs 133.80 apiece as of 11:10 a.m., compared to a 0.09% gain in the Nifty.
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The total traded volume so far in the day stood at 12.1 times its 30-day average. The relative strength index was at 78, implying that the stock is overbought
The one analyst tracking the company maintains a ‘hold’ on the stock, according to Bloomberg data.
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