Small-cap stock below ₹100 hits 52-week high after bulk deals; soars almost 240% YTD

Small-cap stock: Arnold Holdings shares rose over 4% to a new 52-week high, a day after witnessing bulk deals. However, the stock quickly lost momentum, dropping over 6%. The stock has soared almost 240% year-to-date (YTD).

Nishant Kumar
Updated24 Sep 2024, 12:24 PM IST
Small-cap stock below  <span class='webrupee'>₹</span>100 hits 52-week high after bulk deals; soars almost 240% YTD
Small-cap stock below ₹100 hits 52-week high after bulk deals; soars almost 240% YTD(Unsplash)

Small-cap stock: Arnold Holdings shares surged over 4 per cent in early Tuesday trading, reaching a fresh 52-week high of 74.70 on the BSE, following a flurry of bulk deals the previous day. However, the momentum quickly faded, with the stock erasing all gains and slipping into the red. Arnold Holdings share price opened at 72 against its previous close of 71.70 and jumped 4.2 per cent to hit its 52-week high of 74.70. The stock, however, soon erased all gains and dropped as much as 6.3 per cent to the level of 67.20. Subsequently, paring losses, the stock traded 0.28 per cent lower at 71.50 apiece around 11:50 am.

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BSE data shows that the small-cap counter saw six bulk deals on Monday-three buys and three sells. Among the buyers, Navratri Share Trading Private Limited bought 11.70 lakh shares of the company at a price of 71.61 apiece. Mansi Share & Stock Advisors Private Limited bought 3.50 lakh shares, and Multiplier Share And Stock Advisors Private Limited bought 1.50 lakh shares at a price of 71.70 each.

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On the other hand, Raudramukhi Commerce Private Limited sold 1,139,200 shares, Nirmal Lunkar sold 305,000 shares, and Bhuvneshwari Vyapaar Private Limited sold 178,689 shares of the company at an average price of 71.70 each.

The stock has seen an exorbitant gain over the last year. It hit its 52-week low of 16.90 on October 5 last year. From that level, it surged 342 per cent to scale its fresh one-year high today. Year-to-date (YTD), the stock has gained nearly 240 per cent.

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Arnold Holdings, incorporated in 1981, is a non-banking financial company (NBFC) that has diversified into multiple financial sectors, including corporate finance, infrastructure finance, mortgage and loans, and the capital market.

In addition to its private equity practice, Arnold Holdings has invested in the real estate sector, establishing various funds at key points in the real estate cycle.

According to the company, its digital lending platform, Tradofina App, offers several kinds of loans, including online purchase loans, consumer durable loans, and personal loans. Arnold Holdings, regulated by the Reserve Bank of India, finances these loans.

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First Published:24 Sep 2024, 12:24 PM IST
Business NewsMarketsStock MarketsSmall-cap stock below ₹100 hits 52-week high after bulk deals; soars almost 240% YTD

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