Archies zooms 57% in two weeks on stake hike by promoter

The locked in upper circuit of 10% at Rs 50.25, also its 52-week high on the BSE, extending its an over 40% surge in past nine days.

Archies is locked in upper circuit of 10% at Rs 50.25, also its 52-week high on the BSE, extending its over 40% surge of the past nine days after promoter Anil Moolchandani hiked stakes in the company through open market.

“Anil Moolchandani, Chairman and Managing Director of the Archies purchased 20,000 shares of the company on 08/12/2017 at the consideration value of Rs 6.87 lakh and further purchased 20,000 shares of the company on 11/12/2017 at the consideration value of Rs 6.70 lakh from the open market,” Archies said in a regulatory filing on December 12, 2017.

Anil