Mumbai: Shares of DP Wires Ltd rose sharply in early trade on Wednesday after Amitabh Bachchan reduced part of his stake in the company through an open market transaction.
The stock gained strong momentum following the bulk deal and attracted fresh investor attention.
According to bulk deal data available on the National Stock Exchange (NSE), Bachchan sold 1,23,622 shares, representing nearly 0.79 percent stake in the company.
The shares were sold at an average price of Rs 200.84 per share, taking the total transaction value to around Rs 2.48 crore.
Stake Change
At the end of the March quarter, Bachchan held a 2.11 percent stake in DP Wires, equivalent to nearly 3.27 lakh shares.
Interestingly, exchange data also showed that Bachchan purchased 41,566 shares in the same period at an average price of Rs 199.90 per share.
The value of this purchase stood at around Rs 83.09 lakh.
The identities of the counterparties involved in the transaction were not disclosed.
Stock Movement
Following the deal, DP Wires shares climbed 4.56 percent to Rs 213.03 on the NSE, reflecting strong buying interest.
Market participants often closely track transactions involving high-profile investors, as such moves can influence market sentiment and trading activity.
DP Wires, based in Madhya Pradesh, manufactures steel wires used in multiple industrial applications.
The company has remained on investors radar due to its business growth and changes in shareholding patterns.
Analysts believe the mixed buy-and-sell activity by a marquee investor like Bachchan may keep the stock in focus in the near term, while broader market sentiment will continue to influence price movement.
Disclaimer: This story is based on exchange data and market disclosures, not investment advice. Investors should evaluate risks before investing.
