BofA Securities buys 6.37 lakh shares of smallcap multibagger Kellton Tech Solutions worth Rs 11 crore
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BofA Securities Europe SA bought over 6.37 lakh shares of smallcap counter Kellton Tech Solutions at Rs 175.91 per equity share via a block deal. The total cost of acquisition stood at Rs 11 crore. Kellton is a full-service IT solutions provider with a global presence. It has offices in the United States, Europe, and Asia, and it serves clients in a wide range of industries, including healthcare, finance, retail, and manufacturing. The stock has delivered multibagger returns of 119% over the past 12 months, outperforming Nifty which has given 25% returns in the same period. On the year-to-date basis its returns stand at 81% versus 13% returns by the 50-stock index. The stock is trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 106 and 98, respectively, according to data available on Trendlyne. The recent rally has taken the counter into a strongly overbought zone with momentum indicators RSI and MFI reported by Tren...