Only Buyers: Following an agreement with a Reliance subsidiary, shares of this smallcap company surged over 150 per cent in just one month!

On an intraday basis on Monday, shares surged and locked at a 5 per cent upper circuit at Rs 325.35 per share on the BSE, setting a new 52-week high.

The Indian headline indices fluctuated between gains and losses on Monday due to conflicting investor mood. Due to steep declines in the Adani group stocks, the BSE Power, BSE Utilities and BSE Oil & Gas sectors were taking the brunt of the losses. Gains in information technology and telecommunications stocks led to a closing rally for the Sensex. Bajaj Finance led the Sensex rally with gains of over 4 per cent thanks to its robust quarter performance.  

Investors were attracted to the strong uptrend in the shares of Lotus Chocolate Company Ltd, a Small-Cap packaged foods company. Shares skyrocketed more than 150 per cent in just one month after hitting back-to-back upper circuits!  

This never-ending trend of hitting the upper circuit started with the announcement by Reliance Consumer Products Limited, a wholly owned subsidiary of Reliance Retail Ventures, that it will purchase a 51 per cent controlling stake in Lotus Chocolate Company and launch an open offer to acquire up to 26 per cent of the company.  

On an intraday basis on Monday, shares of Lotus Chocolate Company Ltd surged and locked at a 5 per cent upper circuit at Rs 325.35 per share on the BSE, setting a new 52-week high.  

The company is one of India's select manufacturers of gourmet chocolates, cocoa products and cocoa derivatives. Its products are sold to chocolate manufacturers and chocolate users all over the world, from small bakeries to major corporations.  

Keep a close eye on this scrip for the upcoming sessions!