Share price of this micro-cap stock moved up by nearly 10 percent on NSE to hit an intraday high at Rs. 510 in the trading session of Thursday, after foreign investor BofA Securities bought stake in the company amounting to Rs. 1.62 crore via bulk deal.
At 03:03 p.m., the shares of Rulka Electricals Limited were trading in the green at Rs. 498, up by 7.3 percent, as against its previous closing price of Rs. 464, having a market capitalisation of Rs. 212 crore.
According to the bulk deal data available with the NSE, the foreign investor BofA Securities Europe SA purchased 34,800 equity shares in Rulka Electricals worth nearly Rs. 1.62 crore, at an average price of Rs. 465.81 per share.
BofA Securities marketing name used by the Global Banking and Global Markets divisions of Bank of America Corporation.
It is a global investment banking division that provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management.
BofA Securities Europe SA, a subsidiary of BofA Securities, operates as an institutional broker and offers fixed income, currency, and commodities financial instruments dealing, as well as investment banking advisory, underwriting, and post-trade related services.
On a year-on-year basis, the revenue from operations of Rulka Electricals stood at Rs. 71 crore in FY23-24, increasing by 51.6 percent from Rs. 46.83 crore in FY22-23.
The after-tax profit grew from Rs. 2.8 crore in FY22-23 to Rs. 6.11 crore in FY23-24, indicating a growth of 118.2 percent YoY.
As per the shareholding pattern of March 2024, the Promoters hold an 86.29 percent stake, while Retail Investors hold 13.71 percent in the company.
Established in 2004, Rulka Electricals Limited offer a wide range of services for engineering, installation, commissioning, upcoming projects and for operation & maintenance of existing plants.
The company provides electrical supplies for commercial, industrial, residential complexes, utilities and telecommunications.
Written by Shivani Singh
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