Deepak Spinners hits upper circuit as Dolly Khanna buys stake in company

New Delhi: Shares of Deepak Spinner hit the upper circuit on Friday as ace investor Dolly Khanna bought a stake in the textile company on Thursday. Khanna bought about 1.06 per cent stake or 76,555 shares of Deepak Spinners at Rs 167.2 apiece through a bulk deal on BSE. The deal was worth Rs 1.28 crore at the price.

On Friday, shares of Deepak Spinners soared 20 per cent, the daily circuit limit, to Rs 201.90. BSE Sensex was trading with mild gains at 52,705.96 at the time of writing this report. The counter settled at Rs 168.25 on Thursday.

Net profit of Deepak Spinners rose 38.78 per cent to Rs 9.34 crore in the quarter ended March 2021 as against Rs 6.73 crore during the previous quarter ended March 2020.

Sales rose 32.40 per cent to Rs 111.32 crore in the quarter ended March 2021 as against Rs 84.08 crore during the previous quarter ended March 2020.

Shares of the Chandigarh-based Deepak Spinners have soared over 50 per cent in the last one month. The counter is up by 165 per cent in the 2021 so far.

Dolly Khanna has been investing in the stock markets since 1996. Her husband, Rajeev Khanna manages the portfolio, which is now worth close to Rs 250 crore, as per Trendlyne.

She holds more than 1 per cent stake in nine listed companies including Rain Industries, KCP, Neuland Laboratories, Nucleus Software, Butterfly Gandhimathi Appliances and NCL Industries, Trendlyne data shows.