Spectrum Electrical Industries shares surged to a record high of ₹2,878.6 on Thursday, locking in the 5 percent upper circuit for the sixth consecutive session on the National Stock Exchange. According to bulk-deal data, Motilal Oswal Mutual Fund acquired 1.15 lakh shares worth ₹30.48 crore, representing a 0.73 percent stake in the electrical components maker from Ajay Bhikamchand Jain. The shares were traded at ₹2,651 apiece during the transaction. In a significant development, Spectrum Electrical Industries has raised ₹324.98 crore through equity issuance, allotting 13,73,625 equity shares at ₹2,002 per share to non-promoter group. The company also issued 2,49,750 fully convertible warrants at ₹2,002 per warrant for ₹49.99 crore to promoters on receipt of ₹12.49 crore being 25% of the warrant subscription price.
CAMS reported strong Q1 FY2026 results with consolidated net sales reaching ₹395.03 crore, marking an impressive 11.54% year-on-year growth. The company's standalone operations also demonstrated robust performance with net sales of ₹353.05 crore, up 5.58% Y-o-Y. These financial results come amid significant institutional stake changes in the company, with Fidelity Rutland Square Trust II Strategic Advisers FIDEMG Markets Fund and FMRC Fidelity Emerging Markets Fund previously selling a 2.69% stake for ₹456.64 crore.
The Bharat Battery Manufacturing Company Private Limited Provident Fund Institution acquired 2.61 lakh shares representing a 1.11 percent stake in IT sales and services provider Vedavaag Systems for ₹57.82 lakh. The shares were purchased at ₹22.1 apiece, with the stock locked in a 20 percent upper circuit to close at a new high of ₹22.21 on the NSE. This acquisition extends Vedavaag Systems' strong performance after a period of consolidation following its listing.
CAMS recovered sharply from a low of ₹681 after opening lower, trading in a range before closing at ₹712, down 0.42 percent. The stock's performance reflects the mixed investor sentiment following the significant stake changes. Geojit Financial Services has issued a buy recommendation with a target price of ₹910, indicating positive analyst sentiment despite recent volatility. These transactions highlight active institutional interest in both established players and emerging companies in the financial services and technology sectors.
