Bulk Deal: Stock under ₹60 hits 5% upper circuit after DII acquires stake in the company

During Wednesday’s trading session, shares of a company engaged in the business of selling bikes and other related services hit a 5 percent upper circuit on BSE, after a Domestic Institutional Investor (DII) bought 14,400 shares in the company via a bulk deal on BSE.

Price Movement

With a market cap of Rs. 15 crores, the shares of Resourceful Automobile Limited hit a 5 percent upper circuit at Rs. 56.18, as compared to its previous closing price of Rs. 53.51. The stock has delivered negative returns of nearly 54 percent over a one-year period, while around 1 percent of positive returns in the last one month.

What’s the News

As per BSE bulk deal data, domestic investor Plutus Capital Management LLP purchased 14,400 equity shares valued at around Rs. 7.63 lakh in Resourceful Automobile through an open market transaction, at an average price of Rs. 53.02 per share.

Earlier, on March 20th, Plutus Capital Management LLP had purchased 15,600 equity shares worth nearly Rs. 7.84 lakhs through an open market transaction, at an average price of Rs. 50.29 per share.

Also read: 20% Upper Circuit: Penny stock skyrockets after securing ₹250 Cr redevelopment project

Financials

Resourceful Automobile Limited reported a significant growth in revenue from operations, experiencing a quarter-on-quarter increase of nearly 22.7 percent, rising from Rs. 6.62 crores in H1 FY25 to Rs. 8.12 crores in H1 FY25. However, during the same period, the company’s net profit decreased from a profit of Rs. 0.44 crores to a loss of Rs. 0.7 crores.

About the Company

Resourceful Automobiles Limited is engaged in the business of the sale of bikes and other related services. The company specialises in the sales and servicing of motorcycles and scooters, offering high-quality products. It is actively involved in the dealership of two-wheeler bikes of Yamaha, operating under the showroom name “Sawhney Automobiles”.

Written by Shivani Singh

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