InvestorQ : What explains the sudden interest in Dynamatic Technologies stock?
Moii Chavate made post

What explains the sudden interest in Dynamatic Technologies stock?

Answer
image
Tisha Malhotra answered.
3 months ago
Follow

Dynamitic Technologies is into the manufacture of industrial machinery but what stood out is that despite being a high priced stock, the stock has rallied about 31% in just 2 days to get close to Rs.2,200. The trigger appears to be some star ex-fund managers, Madhusudan Kela and Sunil Singhania buying into the stock. They had formed a formidable team together at Reliance Mutual fund. Madhu bought in his personal capacity.

In fact, just on 10th August, Madhusudan Kela had purchased 44,700 shares of Dynamatic at Rs.1,619 per share. At the same time, Sunil Singhania’s Abakkus Asset Managers also bought 125,000 shares at Rs.1,617 apiece. This represented absorption of promoter selling. The stock appears to have been driven by these well-known investors.

3 Views