Crayons Advertising shares hit upper circuit in early trade; here's why

Shares of Crayons Advertising Ltd hit upper circuit of 10% in early trade today after BOFA Securities Europe SA bought 2,14,000 shares of the firm in a bulk deal. The transaction carried out at a price of Rs 155.18 was worth Rs 3.32 crore. The stock is listed on NSE.

Crayons Advertising stock opened 10% higher and was locked in the upper circuit of Rs 171.80 in early trade. Market cap of the firm rose to Rs 419 crore on NSE.

With today’s rally, Crayons Advertising shares hit a record high on NSE.

The stock has a price to book ratio of 11.3. On June 9 this year, BOFA Securities Europe SA - ODI bought 194000 shares at a price of Rs 120.50 in a bulk deal.

The firm reported a profit for Rs 17 crore for the March 2023 fiscal against Rs 2 crore profit in the fiscal ended March 2022.

The SME stock was listed on June 2, 2023 on NSE. The Rs 41.8-crore SME initial public offering (IPO) was held from May 22 to May 25, 2023. The price band of the IPO was Rs 62 to Rs 65 per share. Shares were availbale in the share sale in a lot size of 2000 shares.

The Crayons Advertising IPO was subscribed 147.54 times on May 25. The public issue was subscribed 169.94 times in the retail category, 45.20 times in the QIB category, and 231.59 times in the NII category.

Crayons Advertising Limited which was incorporated in 1986 is an Integrated marketing and communications agency. It offers 360-degree solutions to a wide array of clients.

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