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Punjab Alkalies hits the roof after Plutus Wealth purchases stake

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Capital Market
Punjab Alkalies & Chemicals was locked in an upper circuit of 10% at Rs 124.55 after Plutus Wealth Management acquired 2.5 lakh equity shares of the company via bulk deal on Tuesday, 27 July 2021.
Plutus Wealth Management bought 2,50,239 equity shares (or 0.56% stake) of the company at an average price of Rs 114.4 per equity share via bulk deals on the BSE yesterday, 27 July 2021.
Meanwhile, shares of Punjab Alkalies extended their winning run to fourth consecutive trading session. The counter gained 36.2% in four days from its previous closing low of Rs 91.5 hit on 22 July 2021. The stock hit a 52-week high of Rs 124.55 in intraday today. Shares of the chemical maker are up 296% from their 52-week low.
Punjab Alkalies & Chemicals promoted by the Punjab State Industrial Development Corporation Limited (PSIDC), is a wholly owned Punjab Government Company. The product range of the company includes Caustic Soda Lye ,Caustic Soda Flakes, Liquid Chlorine, Hydrochloric Acid, Sodium Hypochlorite and Hydrogen Gas.
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First Published: Jul 28 2021 | 1:43 PM IST

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