Datamatics Global Services has been hitting new highs consistently since 19th Dec and today we know the reason why. The stock has hit a 11-year high at Rs.124.70 today.

The news which is moving the stock is that Insync Capital Partners, which is partnered by Rakesh Jhunjhunwala has bought a stake in the company through the open market. Yesterday, it purchased 0.5% or 2,95,000 shares of the company at a price of Rs.102.08/share on the BSE.

One of the promoters of the company, Amrita Vidur Bhogilal has sold 5,00,000 shares at Rs 102.08. As at 30th Sept’16, he held 11,79,143 equity shares or 2% stake in the company.