Authum Investment Locked In Upper Circuit After Large Trade

Shares of Authum Investment & Infrastructure Ltd. surged 20% and is locked in the upper circuit on Friday after a large trade.

At least 52 lakh shares, or 3.1% of the equity, changed hands in the pre-market trade, according to Bloomberg data. The buyers and sellers are not immediately known. 

Authum's stock rose as much as 19.99% to Rs 482.60 apiece, compared to 0.38% rise in the benchmark S&P BSE Sensex as of 11.30 a.m. The stock is at its highest since Sept. 4.

The stock has risen 116.5% on a year-to-date basis. The total traded volume so far in the day stood at 430 times its 30-day average. The relative strength index was at 57.9.