EFC (I) shares zoom 10% after Abakkus Asset Manager buys stakes; details

EFC (I) shares zoomed 10 per cent on BSE, logging an intra-day high at ₹335.9 per share. At 9:52 AM, EFC (I) share price was trading 5 per cent higher at ₹320.45 per share on BSE. In comparison, the BSE Sensex was up 0.07 per cent at 81,830.14. 

 

The market capitalisation of the company stood at ₹3,190.19 crore. Its 52-week high was at ₹373.7 per share, and its 52-week low was at ₹171.35 per share.   CATCH STOCK MARKET LIVE UPDATES TODAY

Why were EFC (I) shares in demand? 

The buying on the counter came after Abakkus Asset Manager’s Abakkus Diversified Alpha Fund – 2 stakes in the company. 

 

According to the National Stock Exchange (NSE) block deals data, on Wednesday, Abakkus Asset Manager’s Abakkus Diversified Alpha Fund – 2 bought 3,50,000 shares of the company at ₹296.1 per share after Forbes EMF sold 3,50,000 shares at the same price. 

 

As of the June quarter, promoters held 45.46 per cent stake in the company: Umesh Kumar Sahay (23.26 per cent stake), Abhishek Narbaria (20.57 per cent stake), and Aditi Umesh Sahai (1.61 per cent stake) were the promoters.

 

Among public shareholders, Bandhan Small Cap Fund held 1.61 per cent stake, Sageone - Flagship Growth 2 Fund held 1.94 per cent, ForbesEMF held 1.51 per cent and Nav Capital Vcc - Nav Capital Emerging Star Fund 1.14 per cent. 

 

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