 "Stock of this industrial machinery company has zoomed 51% in three days")
Shares of Dynamatic Technologies hit a 52-week high of Rs 3,447.85 after they rallied 20 per cent on the BSE in the intra-day trade on Monday, in an otherwise subdued market. The stock of the industrial machinery company was quoting higher for the third straight trading day, zooming 51 per cent during the period. In comparison, the S&P BSE Sensex was down 0.16 per cent at 58,213 points at 12:46 pm.
In the past five weeks, the market price of the company has more-than-doubled or has surged 108 per cent from the level of Rs 1,660 on August 9, 2021, after high networth individuals (HNIs) and renowned fund managers Madhusudan Kela and Sunil Singhania bought a stake in Dynamatic Technologies via open market.
On August 10, Madhusudan Kela bought 44,700 shares of Dynamatic Technologies at price of Rs 1,618.9 per share through a bulk deal on the BSE, while Sunil Singhania’s investment firm Abakkus Asset Manager bought 125,000 shares of the company at Rs 1,617 apiece through a bulk deal, exchange data shows.
Meanwhile, Udayant Malhoutra and Wavell Investments Private, the promoters of Dynamatic Technologies have collectively sold 250,000 equity shares, representing 3.94 per cent of the stake in the company, via open market, according to disclosures made by the company.
Dynamatic Technologies manufactures precision engineering products that find application in tractors, earth moving and material handling equipment, automobiles, and aerospace & defence. Apart from automotive, hydraulics and aerospace & defence divisions, the company also has foundries located in Chennai and Germany.
The company’s strong market position on account of its established relationships with renowned customers across industries and strong technological capabilities across geographies (India, the UK and Germany) supports its business prospects.
In the past five weeks, the market price of the company has more-than-doubled or has surged 108 per cent from the level of Rs 1,660 on August 9, 2021, after high networth individuals (HNIs) and renowned fund managers Madhusudan Kela and Sunil Singhania bought a stake in Dynamatic Technologies via open market.
On August 10, Madhusudan Kela bought 44,700 shares of Dynamatic Technologies at price of Rs 1,618.9 per share through a bulk deal on the BSE, while Sunil Singhania’s investment firm Abakkus Asset Manager bought 125,000 shares of the company at Rs 1,617 apiece through a bulk deal, exchange data shows.
Meanwhile, Udayant Malhoutra and Wavell Investments Private, the promoters of Dynamatic Technologies have collectively sold 250,000 equity shares, representing 3.94 per cent of the stake in the company, via open market, according to disclosures made by the company.
Dynamatic Technologies manufactures precision engineering products that find application in tractors, earth moving and material handling equipment, automobiles, and aerospace & defence. Apart from automotive, hydraulics and aerospace & defence divisions, the company also has foundries located in Chennai and Germany.
The company’s strong market position on account of its established relationships with renowned customers across industries and strong technological capabilities across geographies (India, the UK and Germany) supports its business prospects.
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