Home / Markets / Stock Markets /  Mauritius-based FII invests in small-cap company. Share hits upper circuit

Positional investors who follow FII DII data and scan their latest buying and selling pattern, there is a piece of stock market news for them. Mauritius-based foreign portfolio investor (FPI) Vikasa India Eif 1 Fund has bought stake in a small-cap company listed on BSE. As per the BSE bulk deal data available on the BSE website, Vikasa India Eif 1 Fund — Incube Global Opportunities has bought 51,000 shares of BSE listed small-cap company SM Gold. They bought these shares in a bulk deal executed on 23rd September paying 40.15 per share. This means the foreign institutional investor (FII) has invested 20,47,650 in the small-cap company that ended with a market cap of 40 crore on Friday.

After the outbreak of this stock market news, bulls responded positively leading to spurt in trade volume of SM Gold shares. The small-cap stock opened positively and went on to hit upper circuit within few minutes of market opening on Friday session. The stock has been under severe sell-off heat after climbing to its life-time high of 359 in February 2022. After ushering in 2022, this small-cap stock witnessed big upside movement but after the outbreak of Russia-Ukraine war, the stock remained under pressure continuously. But, it seems that it is now trying to come out of the consolidation phase as the small-cap stock has hit upper circuit on last four successive sessions.

SM Gold share price history

As mentioned above, the small-cap stock has remained under sell-off heat for last six months. In last one month, this stock has lost to the tune of 35 per cent whereas in last six months, it has slipped from around 135 to 40 apiece levels, logging around 70 per cent dip in this period. In year-to-date (YTD) time, this small-cap stock has slumped from around 255 to 40, recording around 85 per cent slide in 2022.

So, the stock came down to its 52-week low or 32.55 in recent sessions and now it is showcasing upside movement now.

On 23rd September 2022, FIIs net sold 2899.68 crore worth of shares whereas DIIs bought shares worth 299.1 crore.

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
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