The stock opened at ₹2,200 on Tuesday and leapt 10% to ₹2,219, before climbing to an intraday peak of ₹2,274 – the company’s highest level in a year. The move followed a block sale by sole promoter Jupiter Capital, which off‑loaded 45.49 lakh shares at ₹1,824 each, valuing the transaction at ₹829.72 crore.
Jupiter Capital’s stake fell from 58.03% to 47.34% after the sale. The block deal attracted a mix of large‑cap investors: Kotak Mahindra Mutual Fund bought 20.83 lakh shares, Abakkus Investment Managers and its fund families acquired 12.89 lakh shares, while Svadha India Emerging Opportunities Scheme 1 and Vanaja Sundar added 8.77 lakh and 3 lakh shares respectively, collectively worth about ₹635 crore.
Shareholding data shows promoters still hold a majority, but public shareholders now own 41.97%, including 1.45% by mutual funds and 20.67% by over 43,000 retail holders. Corporate bodies account for 6.36% of the equity, underscoring a diversified ownership base.
On the NSE, AXISCADES closed the session 7.3% higher at ₹2,219, marking a 65% increase from the start of the year. The 52‑week high signals momentum that could attract further institutional buying.
Analysts note the block sale reflects confidence from prominent funds, but caution that the company’s earnings guidance remains pending. Investors will watch the upcoming earnings report in Q4 for clearer valuation cues.