The shares of Likhitha Infrastructure rallied 5.69% on Thursday’s early trades to hit a new high of ₹ 496.00 apiece on the National Stock Exchange (NSE). Its shares soared 22.17% in the past two days from ₹ 406.00 to ₹ 496.00, amid heavy volumes as ace investor Ashish Kacholia bought a stake in the company. They were trading at ₹ 474.85 apiece at 02:35 PM on Thursday.
Likhitha Infrastructure is a civil construction company. It is engaged in the business of pipeline laying by providing comprehensive erection, testing and commissioning of oil & gas pipelines, city gas distribution (CGD) projects and operation and maintenance (O&M) services. It is a small-cap company with a market capitalization of ₹ 927 crores.
Ashish Kacholia bought 3.97 lakh shares of the company at an average price of ₹ 386.00 apiece. He bought these shares via a bulk deal executed on 30th November 2022, by investing ₹ 15.32 crores in the company.
Meanwhile, the company’s shares are going to be split. The board has set Friday, December 02, 2022, as the record date for ascertaining the eligibility of its shareholders for the sub-division of its shares. Each share with a face value of ₹ 1 will be split into two equity shares having a face value of ₹ 5 each.
Likitha Infrastructure has given 246.86% returns in the past two years as its share price increased from ₹ 136.90 to ₹ 474.85. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares two years ago, the value of their holdings would have been ₹ 3.46 lakhs today.
Written by Simran Bafna
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