52-week high alert: Investors rush to buy shares of aerospace and defence company as lockup period ends!
Share price soars 200 per cent in 52 weeks! Investors who bought at Rs 717.75 are now sitting on a goldmine.
Today, the shares of Data Patterns (India) Ltd hit back-to-back 52-week highs in straight 3-trading sessions to Rs 2,250.75. The surge in Data Pattern's shares is likely due to the fact that the lockup period was originally scheduled to end in December 2022, but it was extended to July 2023. This gave investors more time to accumulate shares, and it also created anticipation for the end of the lockup period.
The lockup period is a period of time after a company goes public when the major shareholders are not allowed to sell their shares. When this period ends, the trading restrictions get removed, and the shareholders are free to sell their shares.
DSIJ offers a service 'multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Data Patterns (India) is a vertically integrated Defence and Aerospace electronics solutions provider catering to the indigenously developed defence products industry. The company’s major product groups consist of Radars, Underwater electronics/communications/other systems, Electronic warfare suite, BrahMos programme, Avionics, small satellites, ATE for defence and aerospace systems, and COTS.
At present, the shares of Data Patterns Ltd are trading at Rs 2,161.95 up by 142.50 points or 7.06 per cent. The share opened at Rs 2,049.95 and hit a day high and low of Rs 2,250.75 and Rs 2,045.15 respectively.