Sudarshan Chemical soars 23% in 3 days after Axis MF buys stake in company

Shares of Sudarshan Chemical Industries edged higher by 18 per cent to Rs 698 on the BSE in intra-day trade on Friday, up 23 per cent in the past three trading days, after Axis Mutual Fund bought nearly 1 per cent stake in the company via the open market.

On August 24, 2021, Axis Mutual Fund A/c Axis Smallcap Fund purchased 589,498 equity shares, representing a 0.85 per cent stake of Sudarshan Chemical at a price of Rs 565 per share on the BSE, the exchange data shows.

Rahul Pradeep Rathi, one of the promoters of the company, sold 980,681 equity shares