Renol Polychem Share Price Hits 10% Upper Circuit on Block Deal Activity

Mumbai, November 3: Renol Polychem share price surged sharply on Monday, hitting the 10% upper circuit amid strong buying interest following block deal activity. As of 12:00 PM, the stock was locked at ₹118.80, up ₹10.80 from the previous close. The shares have traded only at the upper circuit level so far, with a total volume of 99,600 shares. The company’s market capitalisation currently stands at ₹86 crore. Renol Polychem also touched its 52-week high of ₹118.80, while its 52-week low remains at ₹69.

Renol Polychem Limited (NSE: RNPL) is an Indian company that manufactures and supplies products for the plastic industry. The company was established in 2008 and is headquartered in Rajkot, Gujarat.

Bulk Deal Activity Driving the Rally

The rise in the Renol Polychem share price is a result of a bulk deal activity, where a significant number of shares changed hands. The bulk deal saw three funds selling 48,000 shares of Renol Polychem each. Funds that sold the shares included Persistent Growth Fund – Varsu India Growth Story Scheme 1, Compact Structure Fund, and Generational Capital Breakout Fund 1. They sold the shares at ₹108 per share, amounting to ₹51.84 lakh per fund.

The stock attracted strong buying interest from multiple investors soon after trading began. Among the key buyers, Motta Hardik Kishor purchased 67,200 shares, while Marisha Hardik Motta and Vaishaliben Mehulkumar Panchal acquired 62,400 and 57,600 shares, respectively. These purchases were made at an average price of around ₹108 per share, reflecting solid investor confidence in Renol Polychem.

The sharp rise in Renol Polychem’s share price, which hit the 10% upper circuit, has propelled the stock to a 52-week and all-time high. The recent bulk deals highlight investors’ strong confidence in the company’s growth potential, leading to a surge in trading volume. However, market participants will be watching closely to see if the stock can maintain this momentum in the coming sessions.

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