The moment it opened for trading, Thangamayil Jewellery was locked on the 5% UC at Rs.436.30. Its 52-week high is at Rs.461.80 and low at Rs.158.40.

The stock has surged on news that Kenneth Andrade, the founder of Old Bridge Capital Management has picked up stake in the company.

On the NSE yesterday, Old Bridge bought 489,427 shares or 3.6% stake in the Madurai-based jewellery company. This was purchased at an average price of Rs.410/share.

Kenneth Andrade is a value investor and usually picks up long term mid-cap stocks.