Business & Policy | News & Insights

Deepak Spinners zooms 18%, hits new high after Dolly Khanna buys 1% stake

Published: June 25, 2021
Author: Manali bhanushali

Dolly Khanna acquired 76,555 shares of Deepak Spinners, representing a 1.06 percent interest, on Thursday, June 24, 2021, at a price of Rs 167.21 per share.
Deepak Spinners shares surged 18% to a record high of Rs 199 on the BSE in intra-day trade on Friday after investor Dolly Khanna purchased a 1% stake in the textiles firm on the open market.

On Thursday, June 24, 2021, Dolly Khanna paid Rs 1.28 crore for 76,555 shares in Deepak Spinners, representing a 1.06 percent ownership. According to exchange records, Dolly Khanna purchased shares at a price of Rs 167.21 per cent in a bulk transaction on the BSE.
According to the statistics, Survat Jain sold 41,302 shares at a price of Rs 156.43 per share. The names of the other sellers were not revealed.
According to Trendlyne, Dolly Khanna, who has been investing in the stock market since 1996, has a net worth of more than Rs 248 crore. According to Trendlyne statistics, she owns more than 1% of nine publicly traded businesses, including Rain Industries, KCP, Neuland Laboratories, Nucleus Software, Butterfly Gandhimathi Appliances, and NCL Industries.
Deepak Spinners is a major producer of coloured synthetic yarn. Aside from the home market, the firm exports to Syria, the Middle East, Turkey, Belgium, and the United States of America. The firm produces yarn with counts ranging from 8 to 40 Ne in 100% Polyester, 100% Viscose, 100% Acrylic, and Polyester Acrylic & Polyester Viscose mixes.
The stock was up 17% at Rs 196 on the BSE at 09:37 a.m., compared to a 0.22 percent increase in the S&P BSE Sensex. With 129,000 shares changing hands on the BSE, trading volumes on the counter more than doubled. The stock is not traded on the New York Stock Exchange (NSE).

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