Ace Investor Anil Kumar Goel Buys Fresh Stake In Crayons Advertising, Scrip At 5% Upper Circuit Limit

Shares of Crayons Advertising Limited have been added to the portfolio of renowned investor Anil Kumar Goel. Crayons Advertising Limited is an integrated marketing and communications firm with a market capitalization of Rs 280 Cr. The majority of Anil Kumar Goel's deal with Crayons Advertising was completed on June 7, 2023, on the NSE via block deal. Anil Goel purchased 2 lakh fully paid up equity shares in this transaction for Rs 109.35 per share. This indicates that the professional investor has put in Rs. 2.18,70,000, or Rs. 2.18 crore in the deal.

According to information of Trendlyne, Anil Goel and his company owned 32 stocks in his portfolio by the end of the March 2023 quarter, and the portfolio's net value stood around Rs 1,870 crore in the financial year 2022-23. Anil Goel added a Dhampur Sugar Mill during the quarter from January to March 2023. Ace Investor has recently acquired around 12.7% stake in Dhampur Sugar Mills Ltd, according to the shareholding pattern of Crayons Advertising for January to March 2023 quarter.

Commenting on the technical outlook of the stock, V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today said "Crayons Advertising Ltd (CRAYONS-ST) it's a just listed stock listed at 90 (listed at premium stock price band was 62-65 for IPO) currently trading at 114. In the last 2 days it is hitting upper circuit. Other thing to be notice is price is moving high today but volumes are not. One could take a chance in it for long short term to midterm investment opportunity with target expectation of 130/134/140/150/170/200 with initial stop loss at 85. And if it starts sustain above 200 also in near term that shift TSL to 140 and hold for longer period."

A R Ramachandran, Co-founder & Trainer-Tips2trades said "Crayons Advertising stock is bullish with next resistance at 118.75. Investors should book profits at current levels. Strong support at 100." During the morning deals of the stock market's opening bell, the share price of Crayons Advertising rose over its opening price of Rs. 114.70 to reach its 5 percent upper circuit at Rs. 114.80.