Small-cap multibagger stock locks in at 10% upper circuit amid block deal buzz

Prime Focus share price was locked in at a 10% upper circuit on Friday, led by a spurt in trading volumes. The small-cap stock saw a gap-up opening and surged to a high of ₹158.10 apiece on the BSE.

The rally in Prime Focus share price was aided by strong trading volumes amid a block deal. According to a report by CNBC-TV18, around 47.5 lakh equity shares of Prime Focus, representing 1.53% stake in the company, changed hands in a block deal window on stock exchanges on September 5.

The average one week trading volume of Prime Focus shares is 2 lakh, while its one month average volume is 3 lakh shares.

Additional details on the Prime Focus block deal, including the names of the buyer and seller, and the transaction amount, were unknown.

Prime Focus shares extended gains for the second consecutive session on Friday. Prime Focus is a small-cap company in the Media & Entertainment sector. The gains in the smallcap stock comes amid a broader rally in the Indian stock market today.

Recently, Prime Focus announced that it has received ‘no-objection’ letters from the stock exchanges - BSE and NSE - for reclassification of the shareholder status of Monsoon Studio Private Limited from the company’s ‘Promoter Group’ category to the ‘Public’ category.

Prime Focus Share Price Performance

Prime Focus share price has remained flat in one month, but has rallied 36% in three months. The small-cap stock has jumped 60% in six months, and has gained 13% on a year-to-date (YTD) basis. Prime Focus shares have surged 73% in two years, and delivered multibagger returns of 300% in five years.

At 9:50 AM, Prime Focus share price was still locked in at 10% upper circuit of ₹158.10 apiece on the BSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.