- Prime Focus shares rose over 10% after stake purchase by Madhusudan Kela and Ramesh Damani
- Three Singapore-based entities sold a combined 3.8% stake via block deal worth Rs 188 crore
- 1.20 crore shares were sold at an average price of Rs 156.55 per share in the block deal
Prime Focus share price rallied over 10% in trade so far after ace investors like Madhusudan Kela and Ramesh Damani bought a stake in the company. Their acquisitions were part of a block deal in which three Singapore-based entities divested a combined 3.8% stake through open market transactions.
The integrated media and services company saw a stake sale of Rs 188 crore, with a total of 1.20 crore equity shares representing a collective 3.87% stake, as per BSE block deal data. The transaction was executed at an average price of Rs 156.55 per share.
The divesting entities included Augusta Investments, which offloaded a 2% stake, along with Marina IV Singapore and Marina Horizon Singapore. Besides the ace investors who bought in, Singularity Large Value Fund also acquired a 2.02% stake in the company.
Prime Focus Share Price
Prime Focus stock rose as much as 10% during the day to Rs 191.6 apiece on the NSE. It was trading 10% higher at Rs 191.6 apiece, compared to an 0.27% advance in the benchmark Nifty 50 as of 10:10 a.m.
It has risen 33.74% in the last 12 months and 39.54% on a year-to-date basis. The total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 61.9. There are no Bloomberg analysts who cover this counter.
In the last six month, the scrip had surged over 85%. The prices have risen to the six month high of Rs 191.62 today on the back of the stake sale.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
