This S&P BSE Smallcap Stock Jumped 17.8% on Tuesday within the first hour of markets opening after a block deal in which 5,200,000 shares changed hands.
The company has a market cap of Rs. 9,622 crore and is 2% away from its 52 week high, trading at Rs. 560.00 versus Rs. 482.60 at closing on Friday. The stock is seeing volumes that are 0.3x the monthly average, trading 23% and 95% respectively above its 20 day and 200 day moving averages.
Authum Investment & Infrastructure (“Authum”) is also a multibagger over 3 year, 1 year and YTD periods. The company has returned 3,769%, 122% and 150% during the same periods respectively. Meaning, if you invested Rs. 1 lakh into Authum at the start of this year it would have returned you approximately Rs. 2.5 lakh by now!
On 29th September, 5,200,000 shares changed hands between Mentor Capital Ltd who is the buyer and Nariman Investment Holdings Pvt Ltd. The deal represents 3.06% stake in the company. Mentor Capital is classified as a Promoter Group Entity and this deal brings Mentor’s holding in Authum to 9.23% versus 6.17% prior to the transaction. Mentor consequently holds 1,56,82,075 shares in the company as an aggregate, up from 1,04,82,075 shares at the end of Q1 FY24.
Mentor Capital is a US based listed company that invests in its larger pre-IPO related acquisitions and fundings. Mentor takes a significant position in the various members of our family of participating companies but leaves operating control in the hands of the company and legacy company founders.
Authum Investment & Infrastructure operates as a non-banking finance company, engaging in various investment and financial activities in India. The company’s shareholding comprises 72% promoter holding, 21% public holding and 7% FII holding as of June Quarter FY24. Further, the company was listed fairly recently in March CY2021.
Written by Sandeep R
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
