Shares of this penny stock engaged in the construction business hit the 10 percent upper circuit post a couple of trading hours on Monday. The company is expected to announce its financial results for the quarter ended June 2023 today.
With a market capitalization of Rs 315 crores, the stocks of Simplex Infrastructures Limited opened their trading hour at Rs 51.05 and currently are locked in the 10 percent upper circuit recorded at a price of Rs 55.03 apiece.
The company’s stock has shown such a surge in prices post a Bulk Deal that took place pertaining to the company’s shares on 11th August 2023.
According to the NSE Bulk Deal data, HDFC Mutual Fund sold a total of 9,81,300 equity shares of the company with the buying party consisting of two private entities named ICM Finance Private Limited and Maryada Barter Private Limited.
The former bought 3,00,000 equity shares at an average price of Rs 52.49, and, the latter party bought 4,00,000 equity shares at Rs 52.35 making it an aggregate buying worth of Rs 3.67 crores.
The latest shareholding data available as per the June 2023 quarter, the Promoters hold a 49.82 percent stake followed by the Retail Investors holding a 40.99 percent stake in the company.
Simplex Infrastructures Limited is a company that is engaged in the primary business of construction. The company executes projects in various sectors such as Energy & Power, Marine, Transport, etc. It generates a majority of its revenue from domestic operations within India.
Written by Amit Madnani
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