Deepak Spinners zooms in 18% to new high after Dolly Khanna buys 1% stake


Shares of Deepak Spinners rose 18% to a new high of Rs 199 on BSE in intraday trading on Friday after investor Dolly Khanna bought 1% stake in the textile company through the market free.

On Thursday, June 24, 2021, Dolly Khanna bought 76,555 shares, representing 1.06% of the capital, in Deepak Spinners worth Rs 1.28 crore via the open market. Dolly Khanna acquired shares at a price of Rs 167.21% through a wholesale BSE deal, according to exchange data.

Survat Jain sold 41,302 shares at a price of Rs 156.43 per share, according to the data. The names of the other sellers were not immediately determined.

Dolly Khanna, who has been investing in the stock markets since 1996, has a net worth of over Rs 248 crore, according to Trendlyne. It owns more than 1% of the capital of nine listed companies, including Rain Industries, KCP, Neuland Laboratories, Nucleus Software, Butterfly Gandhimathi Appliances and NCL Industries, according to Trendlyne data.

Deepak Spinners is a leading manufacturer of dyed synthetic yarns. Besides the domestic market, the company exports to countries such as Syria, the Middle East, Turkey, Belgium and the United States. The company manufactures yarns of grades (8 to 40) Ne in 100% polyester, 100% viscose, 100 percent acrylic and polyester blends acrylic and polyester viscose.

As of 9:37 am, the stock was up 17% to Rs 196 on BSE, compared to a 0.22% increase for the S&P BSE Sensex. Over-the-counter trading volumes more than doubled with 129,000 shares changing hands on BSE. The share is not listed on the National Stock Exchange (NSE).

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

Leave A Reply

Your email address will not be published.