Three Days, Three Upper Circuits: Prime Focus shares continue momentum

Shares of Prime Focus Ltd. were locked in another 10% upper circuit on Tuesday, September 9, marking the fourth straight session of gains and the third consecutive upper circuit.With this move, the stock hit a fresh record high of ₹191.62. Prime Focus shares have now surged over 90% in the past six months.

A clutch of market veterans, including Ramesh Damani, Utpal Sheth, and a fund owned by Madhusudan Kela, emerged as buyers of Prime Focus shares in a block deal executed last Friday. The sellers were Augusta Investments I Pte. Ltd. and Marina IV (Singapore) Pte. Ltd.

According to exchange data, Ramesh Damani bought 8 lakh shares at ₹142.55 per share, while Utpal Sheth purchased 17.5 lakh shares at the same price. Singularity Large Value Fund I, managed by Madhusudan Kela, acquired 62.5 lakh shares in the block deal.
On the other side, Augusta Investments I Pte. Ltd. sold 54.4 lakh shares, Marina IV (Singapore) Pte. Ltd. sold 38.9 lakh shares, and Marina IV LP offloaded 9.15 lakh shares.Other buyers included Samyak Enterprises and FE Securities, each purchasing more than 7 lakh shares.

As per the June shareholding pattern, neither Damani, Sheth, nor Kela’s fund held any prior stake in Prime Focus. Promoters owned 67.6% of the company, while mutual funds had no major holding. The company’s market capitalisation currently stands at about ₹4,900 crore.

As of June, Augusta Investments I Pte. Ltd. held an 8.86% stake in Prime Focus, while Marina IV (Singapore) Pte. Ltd. owned 7.55%.

On Tuesday, the stock ended locked in the 10% upper circuit at ₹191.62.