This small-cap firm's stock jumps 10% in early trade; here is why
Stock market today: The stock eventually settled at Rs 429.85, up 4.22 per cent. Its 52-week high and low levels are Rs 484.35 and Rs 231.95, respectively.
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Savita Oil Technologies share price NSE BSE: Shares of Savita Oil Technologies, an automotive, industrial lubricant, and petroleum speciality oils production company, jumped as much as 10 per cent to Rs 453.75 apiece on the BSE in the opening deals on Tuesday, March 26.
The stock drew buying interest as data shows that SBI MF bought 20.73 lakh shares, or 2.9 per cent equity, at Rs 408 apiece.
The stock eventually settled at Rs 429.85, up 4.22 per cent. Its 52-week high and low levels are Rs 484.35 and Rs 231.95, respectively.
About Savita Oil Technologies
Established in 1961, Savita Oil Technologies Limited (BSE: 524667| NSE: SOTL) is a leading manufacturer of speciality petroleum products. The company boasts a broad array of products, including transformer oils, liquid paraffins, white oils, automotive and industrial lubricants, coolants, and greases, among others. Headquartered in Mumbai, the company claims that it has world-class manufacturing facilities situated in the state of Maharashtra and at Silvassa in the Union Territory of Dadra and Nagar Haveli and Daman & Diu.
Savita serves varied industries such as power generation and distribution, automotive, thermoplastic rubbers, FMCG, plastics, pharmaceuticals, agriculture, refrigeration, and polymers, among others. "In addition to catering to a sizeable B2B clientele, our popular range of lubricants, greases, and coolants is sold to retail customers under the brand SAVSOL," as per the company's release.
Savita Oil's Q3FY24 Results
Source: Earnings release
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