Rupa & Co, which had closed yesterday at Rs.259.75, opened today at Rs.280 and went on to hit a new high at Rs.311.70, its 20% UC, which it breached briefly.

The stock was up after Abakkus Emerging Opportunities Fund-1, bought 12 lakh or 1.5% stake of the company at an average price of Rs 250.5 in a bulk deal.

Abakkus Emerging Opportunities Fund - 1 is owned by market veteran, Sunil Singhania.