Muthoot Capital Services shares surged to the highest in almost four months on Tuesday, after BNP Paribas picked a stake in the Kerala-based non-banking financial company (NBFC). The French investment firm purchased a 1.5 percent stake in Muthoot Capital through the open market, according to exchange data.
The stock of Muthoot Capital Services — an auto financier and microfinance lender — jumped by as much as Rs 26.4 or 13.5 percent to Rs 222.4 apiece on BSE, their highest intraday level recorded since May 18.
BNP Paribas Arbitrage purchased the stake in the Indian company at Rs 196 per share.
In late afternoon deals, the stock held on almost at its intraday high on Tuesday to quote at Rs 222.2 apiece on BSE with large volumes, up by Rs 26.2 or 13.4 percent from its previous close.
A total of 68,000 Muthoot Capital shares changed hands on BSE as against a daily average of 21,000 in the past two weeks, according to exchange data.
Domestic venture capital firm Elevation Capital sold a 2.2 percent stake in Muthoot Capital through bulk deals on Monday. It had held 8.9 percent in the company through its affiliate Elevation Capital VI FII Holdings as of June 30.
(With agency inputs)
First Published: Sept 13, 2022 1:49 PM IST
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