Shares of Prime Focus Ltd surged 8.24% to ₹188.56 on Tuesday, September 9, after Craft Emerging Market Fund PCC acquired a 3.87% stake in the company through block deals valued at ₹187.86 crore. The stock opened with a strong gap-up and touched an intraday high of ₹191.62, making it one of the top gainers on the NSE.
Details of the transaction
Craft Emerging Market Fund PCC, via Citadel Capital Fund, purchased 63.75 lakh shares at ₹156.55 per share for ₹99.8 crore, while Elite Capital Fund acquired 56.25 lakh shares for ₹88.06 crore.
On the other hand, Augusta Investments I sold 62.24 lakh shares worth ₹97.44 crore, and Marina IV (Singapore) offloaded 57.75 lakh shares for ₹90.4 crore.
Stock momentum
The stock has now rallied for the second consecutive session, after having locked a 10% upper circuit on September 5, when ace investors Ramesh Damani, Madhusudan Kela’s Singularity AMC, and Utpal Sheth picked up stakes in the company.
With today’s move, Prime Focus shares are trading near the upper end of their 52-week range of ₹85 – ₹191.62, supported by robust volumes and strong institutional interest.
