Dynamatic Technologies

NSE India Defence index was quoting higher for the third straight trading day, surging 3.7% during the period, as against 0.14% decline in the Nifty 50.

At 2 PM, Dynamatic Technologies share price was trading 6.32 per cent higher at ₹8,567.90 per share. By comparison, BSE Sensex was trading 0.36 per cent lower at 83,674.53 levels.

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In the past five weeks, the stock has rallied 108% after HNIs and renowned fund managers Madhusudan Kela and Sunil Singhania bought a stake in Dynamatic Technologies

Madhusudan Kela and Sunil Singhania bought a combined 169,700 equity shares of Dynamatic Technologies via open market on Tuesday

At 09:19 am, around 263,471 equity shares, representing 4.15 per cent stake of Dynamatic Technologies, changed hands via block deal on the BSE, the exchange data shows

The market regulator dropped the case as the Securities and Appellate Tribunal (SAT), and then the Supreme Court, found no wrongdoing

The watchdog had conducted an investigation into possible insider trading in the shares of Dynamatic Technologies Ltd

The stock surged 16% to Rs 1,875 on the BSE trade after the company announced that its board will meet on Wednesday, February 28, 2018 to consider and approve de-merger of auto division.

The stock surged 18% to Rs 2,680 after the company posted an over three-fold jump in profit at Rs 19 crore in Q4FY16.