Microcap logistics company MFL India gains investor attention with recent bulk deal

Jan 05 2024 06:31 PM IST
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MFL India, a microcap logistics company, has gained attention from investors after a prominent investor purchased 37.56 lakh shares at a price of Rs 0.86 per share. This has caused a 5.55% increase in stock price, with a 9.84% rise in the past two days. Despite being lower than moving averages, MFL India has shown strong 1-day and 1-month performance compared to the overall market.

MFL India, a microcap logistics company, has recently caught the attention of investors with its latest bulk deal on the Bombay Stock Exchange (BSE). On December 13, 2023, Nitin Bakshi, a prominent investor, purchased 37.56 lakh shares of MFL India at a price of Rs 0.86 per share.

This deal has caused a stir in the market, with MFL India's stock price outperforming the sector by 5.55% on the same day. This is a significant increase for the company, which has been gaining momentum in the past two days and has seen a 9.84% rise in its stock price.

Despite this recent surge, MFL India's stock price is still lower than the 20-day, 50-day, 100-day, and 200-day moving averages. However, it is currently higher than the 5-day moving average, indicating a potential upward trend in the near future.

In comparison to the overall market performance, MFL India has shown a strong 1-day and 1-month performance, with a 4.69% increase and a -9.46% decrease, respectively. This is in contrast to the Sensex, which has only seen a 0.25% increase in the past day and a 3.94% increase in the past month.

MFL India's recent bulk deal and positive stock performance have put the company in the spotlight, attracting the attention of investors. As a microcap logistics company, MFL India has shown potential for growth and is worth keeping an eye on in the future.
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