ADF Foods shares jumped over 7% on August 20, following a significant block deal worth approximately Rs 100 crore. The stock opened with a 3.68% gain and reached an intraday high of Rs 242.85 per share on the Bombay Stock Exchange (BSE).
According to CNBC-TV18, the sharp rise in its share price can be attributed to a large block deal of shares—44 lakh in number—that was traded at Rs 227.5 per share. It is almost 4 percent of its equity, the report said.
ADF Foods is a small-cap company with a market valuation of Rs 2,580.70 crore, on an upward trend for the last two days, and it gained 5.1 per cent during the same period. The stock has risen 22.09 per cent in the last six months on BSE.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
