Rupa & Company stock hits new 52-week high after Abakkus Emerging Opportunities buys stake

Rupa & Company | Company made timely payment of the maturity amount with respect to commercial paper. (Image: rupa.co.in)

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Rupa & Company share price spiked 10 percent intraday on December 29 after Abakkus Emerging Opportunities Fund - 1 bought 12,00,000 shares of the company at an average price of Rs 250.5 in a bulk deal.

The stock was trading at Rs 287.40, up Rs 27.65, or 10.64 percent at 09:54 hours. It has touched a 52-week high of Rs 297.

The scrip also witnessed spurt in volume by more than 2.66 times and was trading with volumes of 42,976 shares, compared to its five day average of 9,037 shares, an increase of 375.53 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has been increasing revenue and profits every quarter for the past 2 quarters. It has zero promoter pledge with the stock showing strong momentum: price above short, medium and long term moving averages.

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