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BF Utilities share price closes 10% higher after Radhakishan Damani buys 1.3% stake

Share price price of BF Utilities ended 10% higher at Rs 220 against previous close of Rs 200.90 on BSE

twitter-logoBusinessToday.In | July 14, 2020 | Updated 16:46 IST
BF Utilities share price closes 10% higher after Radhakishan Damani buys stake
Damani bought 4.91 lakh equity shares in the firm in last quarter, as per the shareholding pattern at the end of quarter ended June 2020

BF Utilities share price closed 10% higher today after ace investor Radhakishan Damani bought 1.3% stake in the company in Q1 of current fiscal.  Damani bought 4.91 lakh equity shares in the firm in last quarter, as per the shareholding pattern at the end of quarter ended June 2020.

Buoyed by reports of Damani buying stake, share price price of BF Utilities ended 10% higher at Rs 220 against previous close of Rs 200.90 on BSE.

BF Utilities share has gained 12.07% in last two days. The micro cap stock opened with a gain of 9.98%  at Rs 220. 90 today. The share stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.. The share has climbed 9.46% in a week.

Total 1.61 lakh shares changed hands on BSE amounting to turnover of Rs 3.55 crore. The stock has lost 30% since the beginning of this year but risen 7.36% during the last one year.

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Market cap of the firm rose to Rs 832.27 crore. The stock hit 52 week high of Rs 361 on December 10, 2019 and 52 week low of Rs 134.53 on March 26, 2020. Damani bought another stock in the June quarter. According to shareholding pattern data, Damani purchased 1.03% stake in Astra Microwave Products in the June quarter. 

Reacting to the transaction, stock of Astra Microwave Products touched 52-week high of Rs 127.9 on July 10.

BF Utilities Limited is engaged in the business of wind power generation. The company operates through two segments: Wind energy and Infrastructure. Its wind farm project is spread over an expanse of over 300 acres at Thosegar site in Satara district of Maharashtra. Its wind farm project consists of approximately 50 wind energy generators of over 230 kilowatts and approximately 10 WEGs of over 600 kilowatts.

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