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Shares of Nilkamal hit an over two-year high of Rs 2,071.60, up 6 per cent, on the BSE in intra-day trade on Monday as promoters increased their stake in the company via open market transactions.
The stock of plastic products company surpassed its previous high of Rs 1,985 touched on February 12, 2021. It was trading at its highest level since August 2018. It had hit a record high of Rs 2,275 on May 11, 2017. In the past three years, the stock has underperformed the market by gaining 27 per cent as against a 50 per cent rally in the S&P BSE Sensex.
According to the disclosure made by Nilkamal to stock exchanges, the company’s promoters Hiten V Parikh, Nayan S
