Vijay Kedia's Stake Buy Fuels 5% Upper Circuit for Mangalam Drugs Shares

• Mangalam Drugs shares surged 5% to hit the upper circuit after ace investor Vijay Kedia's office acquired a stake.
• Kedia Securities Private Limited bought 1.38 lakh shares worth Rs 33.28 lakh on December 29 at Rs 24.15 per share.
• The purchase price represented a 3% discount to the previous closing price of Rs 24.96.
• The company, which manufactures APIs and intermediates, saw its shares lock at Rs 26.20 apiece.
• Despite recent gains, the stock is down significantly over the past six months and from its 52-week high.

Why It Matters: Vijay Kedia's investment triggered a 5% upper circuit for Mangalam Drugs, despite its recent stock volatility.