Bengaluru, April 23 -- A newly listed automobile stock gained 2 percent after Plutus Capital Management acquired a stake worth Rs.18 lakhs. The investment has sparked fresh investor interest, indicating growing confidence in the company's prospects soon after its market debut.

Price Movement

During Wednesday's trading session the shares of Resourceful Automobile Ltd reached an intra-day high of Rs.64.01 per share, rising 2.24 percent from its previous close of Rs.62.60 per share. However the stock later entered the ASM LT: Stage 1. Since its listing in August 2024, the stock has declined by over 48 percent till date.

What Happened

Plutus Capital Management LLP, a domestic institutional investor, recently acquired 30,000 equity shares ...