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

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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).

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