Sula Vineyards, Hi-Tech Pipes Shares Surge As Quant MF Picks Stake

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By Malvika Gurung — Shares of India’s largest winemaker Sula Vineyards (NS:SULA) and the leading pipes manufacturer Hi-Tech Pipes (NS:HITC) surged 5.5% each in Tuesday’s intraday trade after Quant Mutual Fund picked fresh stakes in the two companies on Jan 16.

According to bulk deal data available on bourses, the asset management company purchased 2 lakh equity shares of Hi-Tech Pipes, translating to a shareholding of 1.6% in the company. The shares were picked at an average price of Rs 880 apiece.

Quant Mutual Fund also bought 10 lakh equity shares of the Nashik-based Sula Vineyards, translating to a shareholding of 1.18% stake in the company. Its shares were purchased at an average price of Rs 361.82 apiece.

At the time of writing, shares of Sula Vineyards were trading 2.36% higher and those of Hi-Tech Pipes gained 3%.

Further, ace investor Mukul Agarwal has picked a fresh stake in Sula Vineyards during the December 2022 quarter, entering the small-cap stock by buying 16 lakh equity shares or a 1.9% stake in Q3 FY23.

Read Also: Mukul Agarwal Enters Debutant Stock in Q3, Picks 2% Stake: Valuation?