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By Malvika Gurung
Investing.com — Shares of the premium high quality cotton producer Ambika Cotton Mills (NS:) soared 14.4% to Rs 2,362.95 apiece at 11:40 am, after recording a recent 52-week excessive at Rs 2,639.5 apiece on Friday.
The textile inventory surged about 11% on Thursday, following a powerful efficiency within the December 2021 quarter.
Because of this, ace investor Vijay Kedia bought about 40,000 fairness shares within the firm, priced at Rs 2,243.12 apiece on the NSE, as per bulk deal information on the change.
As per the information, Kedia’s transaction is valued almost at Rs 9 crore, buying about 0.7% stake within the cotton yarn producer on Thursday.
The veteran investor’s portfolio didn’t have any vital shareholding within the Coimbatore-based firm within the Dec-ending quarter.
In Q3 FY22, Ambika Cotton posted a whopping 146% surge in web revenue at Rs 51.85 crore on a YoY foundation, whereas its complete earnings from operations jumped 31% YoY to Rs 252.14 crore within the quarter.
The textile main’s shares have skyrocketed over 150% prior to now yr, and over 25% prior to now 30 days.
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