Lumax Auto Technologies witnessed a remarkable 9 percent increase in its stock value during afternoon trading on February 29. This surge was prompted by a substantial transaction valued at Rs 134.50 crore on the stock exchanges. Approximately 30 lakh shares, equivalent to a 4.4 percent stake in the company, were traded at an average price of Rs 455 per share. The deal’s floor price indicated a 1 percent discount compared to the stock’s previous closing price.
The significant transaction also led to a notable uptick in trading volumes for the company, with 51 lakh shares changing hands on the exchanges so far. This is considerably higher than the one-month daily traded average of 6 lakh shares.