Penny stock under Rs 100: This small-cap company makes a big move, acquires stakes in BSE, Jio Financial & Manappuram Finance

The stock saw a spurt in volume by more than 2.07 times.

Elpro International, located in Pune, recently purchased shares in BSE Limited, Jio Financial Services, and Manappuram Finance, according to exchange records. It paid Rs 3.10 crore for approximately 1.5 lakh shares of Jio Financial Services, Rs 4.20 crore for approximately 3 lakh shares of Manappuram Finance, and Rs 10 crore for approximately 1.07 lakh shares of BSE.

Elpro previously owned holdings in BSE and Jio Financial Services, but the investment in Manappuram Finance is new. The company now owns 1.98 lakh BSE shares and 2.07 lakh JFS shares. Elpro stated that the purchases were made for "investment purposes." The announcements were made on August 24 and 25. On August 14, the business announced the purchase of 39,136 shares in Fairchem Organic, an oleo chemical operator, for Rs 4.05 crore.

Elpro International is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world. Elpro International is currently trading at Rs 74.65, up by 5.93 points or 8.63 per cent from its previous closing of Rs 68.72 on the BSE.

The scrip opened at Rs 70.00 and has touched a high and low of Rs 74.60 and Rs 70.00 respectively. So far 48861 shares have been traded on the counter. The BSE group 'B' stock of face value of Rs 1 has touched a 52-week high of Rs 86.25 and a 52-week low of Rs 53.00. The stock saw a spurt in volume by more than 2.07 times.

Last one week high and low of the scrip stood at Rs 74.65 and Rs 66.50 respectively. The current market cap of the company is Rs 1164.66 crore. The promoters holding in the company stood at 74.99 per cent, while Institutions and Non-Institutions held 12.43 per cent and 12.58 per cent respectively.

Disclaimer: This article is for informational purposes only and not investment advice.