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Infibeam Avenues shares hit new 52-week high after Ravi Agrawal buys over 34 lakh shares

Agrawal has bought 34,68,572 equity shares in Infibeam at Rs 74.85 per share, the bulk deals data available on the National Stock Exchange showed.

July 28, 2020 / 10:04 AM IST
 
 
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Infibeam Avenues share price jumped over 3 percent intraday on July 28 after investor Ravi Omprakash Agrawal acquired an additional half a percent stake in e-commerce technology platforms company Infibeam Avenues on July 27 via open market transaction.

Agrawal has bought 34,68,572 equity shares in Infibeam at Rs 74.85 per share, the bulk deals data available on the National Stock Exchange showed.

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Agrawal had 2,49,22,255 equity shares (representing 3.75 percent of total paid-up equity capital of Infibeam) in Infibeam as of June 2020. With this transaction, his shareholding increased to over 4 percent.

The stock price has surged over 62 percent in the last 3 months and was trading at Rs 76.75, up Rs 2.60, or 3.51 percent at 09:46 hours. It has touched a 52-week high of Rs 77.85. The stock also touched the upper circuit of Rs 77.85 per share on BSE.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, Infibeam low debt with the company showing strong cash-generating ability from core business - improving cash flow from operation for the last two years.

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

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
Moneycontrol News
first published: Jul 28, 2020 10:04 am

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