Centum Electronics stock rises 4% after HDFC Mutual Fund buys 4 lakh shares

HDFC Mutual Fund A/C HDFC Dividend Yield Fund bought 4,00,000 shares of the company at an average price of Rs 421.19 in a bulk deal.

December 31, 2020 / 10:13 AM IST
Centum Electronics | HDFC Mutual Fund A/C HDFC Dividend Yield Fund bought 4,00,000 shares of the company at an average price of Rs 421.19 in a bulk deal on NSE. On the other hand, HDFC Mutual Fund A/C HDFC Equity Savings Fund sold 3,72,882 shares of the company at an average price of Rs 420.72. (Image: Facebook)

Centum Electronics | HDFC Mutual Fund A/C HDFC Dividend Yield Fund bought 4,00,000 shares of the company at an average price of Rs 421.19 in a bulk deal on NSE. On the other hand, HDFC Mutual Fund A/C HDFC Equity Savings Fund sold 3,72,882 shares of the company at an average price of Rs 420.72. (Image: Facebook)

 
 
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Centum Electronics share price jumped over 4 percent in the morning trade on December 31 after HDFC Mutual Fund A/C HDFC Dividend Yield Fund bought 4,00,000 shares of the company at an average price of Rs 421.19 in a bulk deal, according to data available on NSE.

The stock was trading at Rs 462.30, up Rs 20.15, or 4.56 percent, at 1001 hours. It has touched an intraday high of Rs 467.00 and an intraday low of Rs 434.70.

It witnessed a spurt in volume by more than 1.16 times and was trading with volumes of 6,819 shares compared to its five-day average of 5,470 shares, an increase of 24.65 percent.

However, HDFC Mutual Fund A/C HDFC Equity Savings Fund sold 3,72,882 shares of the company at an average price of Rs 420.72.

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Centum Electronics was awarded the Defence Technology Absorption Award 2018 by the Defence Research and Development Organization (DRDO) for military and defence technology.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long-term moving averages. The company has a strong cash-generating ability from core business and has been improving cash flow from operation for the past two years.

Moneycontrol technical rating is very bullish, with moving averages and technical indicators being bullish.

Disclaimer: Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​
Moneycontrol News
first published: Dec 31, 2020 10:13 am

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