Celebrity investor Dolly Khanna buys 1% stake in Deepak Spinners, stock hits upper circuit of 20%

The shares of Deepak Spinners hit an upper circuit of 20 per cent to touch a new life high of Rs 201.9 per share on the BSE today, as the one the ace investors Dolly Khanna bought over one per cent stake in the textile company on Thursday. 

According to the BSE data, Dolly Khanna, a celebrity investor who has a portfolio of around 20 stocks, purchased 76,555 shares, comprising 1.06 per cent holding in the company worth of Rs 1.28 crore through open market in block deal yesterday. She bought these shares at Rs 167.21 per share. 

Survat Jain has sold 41,302 shares at a price of Rs 156.43 per share on Thursday, the BSE data shows. The names of the other sellers are yet to be ascertained on the exchanges. 

Amid the block deal on Thursday, the stock tumbled by over 10 per cent to Rs 168.25 per share, which is yesterday’s close as compared to Rs 188 per share Wednesday’s closing price.  

A leading manufacturer of dyed synthetic yarn, Deepak Spinners export to countries such as Syria, the Middle East, Turkey, Belgium, and the US besides the domestic market. The company manufacture yarn of counts (8 – 40) Ne in 100 per cent Polyester, 100 per cent Viscose, 100 per cent Acrylic and Polyester Acrylic & Polyester Viscose blends. 

The stock had zoomed around 17 per cent to Rs 196 per share in the early morning trade as against a 0.22 per cent rise in the BSE Sensex. The trading volumes on the counter more-than-doubled with 129,000 shares changing hands on the BSE, while it is not listed on the National Stock Exchange.