Deepak Spinners zooms 18%, hits new high after Dolly Khanna buys 1% stake

On Thursday, June 24, 2021, Dolly Khanna purchased 76,555 shares, representing 1.06 per cent stake, in Deepak Spinners at price of Rs 167.21 per share

Shares of Deepak Spinners rallied 18 per cent and hit a new high of Rs 199 on the BSE in intra-day trade on Friday after investor Dolly Khanna bought 1 per cent stake in the textiles company via open market.

On Thursday, June 24, 2021, Dolly Khanna purchased 76,555 shares, representing 1.06 per cent stake, in Deepak Spinners worth of Rs 1.28 crore via open market. Dolly Khanna acquired shares at price of Rs 167.21 per cent through bulk deal on the BSE, the exchange data shows.

Survat Jain has sold 41,302 shares at a price of Rs 156.43 per share, the data shows. The names of the other sellers were not ascertained immediately.

Dolly Khanna, who has been investing in the stock markets since 1996, has a net worth of over Rs 248 crore, as per Trendlyne. She holds more than 1 per cent stake in nine listed companies include Rain Industries, KCP, Neuland Laboratories, Nucleus Software, Butterfly Gandhimathi Appliances and NCL Industries, Trendlyne data shows.

Deepak Spinners is a leading manufacturer of dyed synthetic yarn. Other than the domestic market, the company export to countries such as Syria, the Middle East, Turkey, Belgium, and the U.S.A. The company manufacture yarn of counts (8 – 40) Ne in 100 per cent Polyester, 100 per cent Viscose, 100 per cent Acrylic and Polyester Acrylic & Polyester Viscose blends.

At 09:37 am, the stock was up 17 per cent at Rs 196 on the BSE, as compared to 0.22 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with 129,000 shares changing hands on the BSE. The stock is not listed on the National Stock Exchange (NSE).