Power Mech stock rises over 7% after Bekem Infra Projects buys 1 lakh shares

Power Mech Projects share price rose over 7% intra day after Bekem Infra Projects acquired 1 lakh equity shares in the company. The shares were bought at Rs 395.22 per share, according to data available on BSE.

Subsequently, Power Mech Projects stock touched an intraday high of Rs 433.15, rising 7.68%.

The share stands higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.

The stock gained 11.73% in the last 4 days .

However, in one year, the share has fallen 34.97% and declined 31.46% since the beginning of this year.

Later, the share closed 2.77% higher at Rs 413.40 on BSE.

Meanwhile, benchmark indices closed almost 1.5% lower each on Wednesday, tracking profit-booking in index majors and mixed cues from global markets. Reversing the trend from 3 days of consecutive gains, Sensex ended 694 points lower at 43,828 and Nifty fell 196 points to 12,858.

Investors lose Rs 2.2 lakh crore after Sensex falls 1,000 points from record high