BofA buys shares worth Rs 6.4 crore in this smallcap stock via block deal

The stock today ended at Rs 95.90 on the NSE, gaining by Rs 15.51 or 19.29% over the Monday closing price of Rs 80.39.

Another buyer of this stock was Setu Securities Pvt Ltd. which bought 5.55 laskh shares at a price of Rs 96.38 apiece taking the overall cost of acquisition at Rs 5.3 crore.

The Gujarat-based company is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions. The company started business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles.

Exxaro Tiles has been a market laggard and seen its share price erode by 25% over the last one month. In this year, so far, the stock has lost 18% in share price value.

The stock is trading below its 200-day simple moving average (SMA) of Rs 99.80 while managing to remain above its 50-day SMA of 85.5, according to Trendlyne data. It has been relatively stable with 1-year beta around 0.7.In another block deal, market debutant Arkade Developers witnessed multiple block deals where GRT Strategic Ventures LLP, Pure Broking, NK Securities Research and Aakraya Research LLP bought the company’s shares. Together they bought shares worth Rs 173 crore.The stock today got listed at Rs 175 on the NSE which was a 37% premium over the issue price of Rs 128.

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