BSE seeks clarification after Dolly Khanna-backed Simran Farms shares jump 27% in last 5 sessions

The shares of Simran Farms have shot over 27 per cent in the last five sessions since ace investor Dolly Khanna picked up stakes in the company for the first time. Khanna has picked stakes in this farm's packaged products company twice within a week through open market transactions, as per the NSE data.

Simran Farms, incorporated in 1984, become a public limited company in 1993. An Indore-based company is engaged in the business of integrated poultry and poultry products and has modernised parent poultry breeding farms.

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The stock price for the fifth straight session has hit an upper circuit of 5 per cent to hit a new life for the last three days. The counter made a 52-week high of Rs 191.2 per share on the BSE.

The celebrity investor Dolly Khanna, who holds around 15 stocks in her portfolio, had picked up the stakes in the poultry and packaged products manufacturing company Simran Farms twice in a week. 

She first bought 22,344 equity shares at Rs 135.19 per share and then 19,642 equity shares at Rs 167.96 per share in the company on the BSE, as per bulk deals data.

Amid the sudden surge in the stock price, exchanges sought an explanation. In this regard, Simran Farms said, “We believe that the change in the price/volume may be purely due to market conditions and absolutely market and also due to present scenario in the stock market.”

“We are always committed to comply with all the requirements of SEBI and would like to ensure you that in future and when any announcement/disclosure may be required as per SEBI norms.”

According to trendlyne.com, Dolly Khanna has a net worth of Rs 344.8 crore and has increased her stakes in the existing company such as Nitin Spinners, Rama Phosphates among others, and has also made a fresh entry in media socks NDTV during the September-end quarter in the current fiscal.