This microcap stock is locked in upper circuit for 4th day in a row; Madhu Kela’s wife picks stake

Niyogin Fintech Limited shares climbed 5 percent to hit a new 52-week high of Rs 71 after ace investor Madhusudan Kela’s wife, Madhuri Kela, made an investment purchasing 50.2 lakh shares at an average price of Rs 61.65 per share.

As per block deal data on the BSE, WF Asian Reconnaissance Fund and Carmignac Portfolio collectively sold 13.5 percent of the total outstanding equity. Out of this, Madhuri Kela acquired shares worth Rs 31 crore, equivalent to 5.3 percent of the company’s equity.

Stock exchange data also showed that Think India Opportunities Master Fund LP and Multiplier Share and Stock Advisors Private Limited also purchased 58 lakh and 10 lakh shares respectively at an average price of Rs 61.65 per equity share.

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In July, Madhuri Kela had upped a stake in another small-cap Sangam (India) by 4 percent. The stock has gained nearly 9 percent since then. The company is primarily involved in the processing and spinning of cotton yarns and fabrics, including raw white yarn, dyed yarn, cotton yarn, PV dyed yarn, knitting yarn, weaving yarn and slub yarn, elitwist yarn, carpet yarn, and sewing thread.

In May, the market veteran purchased a stake in Repro India via the open market. As a result, shares of the printing and publication company’s share price zoomed 48 percent that week. Since the veteran purchased stake, the stock has gained 30 percent, BSE data showed.

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