BofA Securities Europe SA Buys 6.37 Lakh Shares of Smallcap Multibagger Kellton Tech Solutions in Rs 11 Crore Block Deal

BofA Securities Europe SA has purchased over 6.37 lakh shares of Kellton Tech Solutions, a small-cap company, at Rs 175.91 per share through a block deal. The total acquisition cost is Rs 11 crore.

Kellton Tech Solutions is a global IT services provider with offices in the United States, Europe, and Asia. The company serves various industries, including healthcare, finance, retail, and manufacturing.

The stock has delivered impressive multibagger returns of 119% over the past 12 months, outperforming the Nifty index, which has returned 25% in the same period. On a year-to-date basis, its returns stand at 81% compared to the Nifty’s 13%.

The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 106 and Rs 98, respectively, according to Trendlyne data.

The recent rally has taken the stock into a strongly overbought zone, with momentum indicators RSI and MFI reported by Trendlyne hovering around 89 and 97.

In the quarter ending March, Kellton Tech reported a consolidated net profit of Rs 23.9 crore, up from Rs 8.1 crore in the December quarter. In the corresponding quarter of the previous financial year, the company reported a net loss of Rs 174.4 crore. The consolidated revenue for the January-March quarter was Rs 248.4 crore, marginally up from Rs 245.8 crore in the December quarter. In the same period last year, the revenue stood at Rs 243.4 crore.