Rupa & Company hits 52-week high after Abakkus Fund buys stake

Rupa & Company surged 10.88% to Rs 288 after Abakkus Emerging Opportunities Fund-1 bought 1.50% stake in the company via bulk deal on Monday, 28 December 2020.

As per the bulk deal data on the NSE, Abakkus Emerging Opportunities Fund-1 purchased 12 lakh shares, or 1.50% equity, of Rupa & Company on Monday, 28 December 2020.

Simultaneously, Suvichar Advisors sold 12.99 lakh equity shares (1.63% equity) of Rupa & Company at Rs 250.55 per share via bulk deal on the NSE. As of 30 September 2020, Suvichar Advisors LLP held 2.30% stake in Rupa & Company.

Abakkus Emerging Opportunities Fund - 1 is owned by market veteran, Sunil Singhania. Singhania floated his portfolio management service firm, Abakkus Asset Management in August 2018. Before Abakkus, he worked as a CIO of Reliance Mutual Fund.

 

Rupa & Company's consolidated net profit jumped 42% to Rs 45.40 crore on a 5.6% increase in net sales to Rs 302.69 crore in Q2 September 2020 over Q2 September 2019.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India.

The scrip hit 52-week high of Rs 297 in intraday today.

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