Prime Focus Shares Soar 10% as Ramesh Damani, Madhu Kela's Singularity AMC Lead Major Investment

Prime Focus Ltd., a prominent global player in creative and technology services for the media and entertainment industry, witnessed a spectacular rally in its shares, surging by an impressive 10% in Thursday's trading session. The significant uptick came on the heels of a series of high-profile bulk deals, which saw a consortium of seasoned investors, including market veteran Ramesh Damani and Madhu Kela's Singularity AMC, collectively acquire a substantial 3.3% stake in the company.

The intricate details of the bulk deals, as revealed by exchange data, highlighted a strategic shift in ownership.

On one side, the promoter group, specifically Naresh Malhotra, offloaded a portion of their holdings. On the other, a group of astute investors stepped in, signaling strong confidence in Prime Focus's future trajectory.

Ramesh Damani, a name synonymous with savvy investments, purchased a significant 12 lakh equity shares of Prime Focus at an average price of Rs 85.01 per share.

Simultaneously, Singularity AMC, led by the astute Madhu Kela, acquired 11.5 lakh shares at an average price of Rs 85.00 per share. The investment spree didn't stop there; Ankit Damani, Rajat Damani, and Madhuri Kela also participated, collectively buying 5 lakh, 5 lakh, and 4.2 lakh shares respectively, all within the average price range of Rs 85.00 to Rs 85.01 per share.

This combined acquisition of over 3.3% of the company's total paid-up equity underscores a collective belief in Prime Focus's underlying value and growth potential.

The market responded enthusiastically to this development. Prime Focus shares not only rallied by 10% but also hit the upper circuit, reaching Rs 93.45 on the National Stock Exchange (NSE).

This sharp increase was accompanied by a significant surge in trading volumes, indicating robust investor interest and a strong buying sentiment. The day's trading saw over 42 lakh shares change hands on the NSE and BSE combined, far exceeding the usual daily averages.

This significant investment comes at a crucial time for Prime Focus.

The company's stock has faced considerable headwinds over the past year, registering a decline of approximately 16%, and a more substantial drop of 45% over the last five years. Therefore, the entry of such prominent investors is seen as a strong vote of confidence, potentially marking a turning point for the company's stock performance.

Prime Focus Ltd.

is a global leader in providing creative and technology services, offering a comprehensive suite of solutions to the media and entertainment industry worldwide. Their offerings span visual effects, animation, post-production, and workflow management, catering to major film studios, broadcasters, and content creators.

This fresh infusion of capital and investor confidence could provide the impetus needed for the company to further solidify its market position and unlock new growth opportunities.