Chemcon Speciality gains 29% in 3 days after Plutus Wealth hikes stake

On December 30, 2020, Plutus Wealth Management LLP purchased 1 million equity shares, representing 2.7 per cent stake of Chemcon Speciality Chemicals, for Rs 43 crore on the NSE via bulk deal

Shares of Chemcon Speciality Chemicals moved higher by 7 per cent to Rs 536 on the National Stock Exchange (NSE) on Friday, surging 29 per cent in the past three days, after Plutus Wealth Management acquired 1 million shares of the company via open market.

On Wednesday, December 30, 2020, Plutus Wealth Management LLP purchased 1 million equity shares, representing 2.7 per cent stake of Chemcon Speciality Chemicals, for Rs 43 crore on the NSE via bulk deal, the data shows. Plutus Wealth Management bought shares at price of Rs 428.52 per share. The names of the sellers were