Maharashtra Corporation under scrutiny for recent bulk deals and 'Sell' call by MarketsMOJO

Maharashtra Corporation, a microcap trading company, has been given a 'Sell' call by MarketsMOJO. The company's stock has been under scrutiny due to recent bulk deals made by key shareholders.

On December 13, 2023, Mahadev Manubhai Makvana, a key shareholder, bought 15.28 lakh shares at Rs 1.85 on BSE. However, on the same day, he also sold 15.28 lakh shares at Rs 1.87 on BSE. This was followed by another sell deal on December 12, where Aarti Rajubhai Narang sold 12 lakh shares at Rs 1.79 on BSE. On the same day, Nikhil Rajesh Singh, another key shareholder, bought 11.8 lakh shares at Rs 1.79 on BSE, but also sold 10.46 lakh shares at Rs 1.8 on BSE.

The trend continued on December 11, with Javedbeg Babubeg Mirza selling 9.43 lakh shares at Rs 1.73 on BSE, while Nikhil Rajesh Singh bought 10.5 lakh shares at Rs 1.73 on BSE and also sold 13.52 lakh shares at Rs 1.73 on BSE. On December 8, Nikhil Rajesh Singh bought 13.92 lakh shares at Rs 1.61 on BSE, but also sold 12.2 lakh shares at Rs 1.67 on BSE. Additionally, Spoonbill Consultancy Services Private Limited sold 15 lakh shares at Rs 1.61 on BSE on the same day.

Despite these bulk deals, Maharashtra Corporation's stock performance has been inline with the sector. The company is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, its 1-day performance is -0.58% compared to Sensex's 0.25% and its 1-month performance is 16.33% compared to Sensex's 3.94%.

Investors should take note of these recent bulk deals and the company's stock performance before making any investment decisions. MarketsMOJO's 'Sell' call also adds to the caution for potential investors.