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Shares of car solutions provider Logix Microsystems jumped 19.9 per cent to touch the daily upper limit.
According to NSE data, portfolio manager Porinju Veliyath bought 0.1 million Logix shares at Rs 36.40 a piece in block deal on Thursday, which led to the increase in stock price.
Logix is a much bigger and better business model, and is in more geographies than some of its peers like CarDekho.com, says Porinju V. Veliyath, MD and portfolio manager at Equity Intelligence.
The company is very strong in Europe and has tie-ups with many premium car makers, Veliyath says.
CarDekho.com had said in February that Ratan Tata, chairman emeritus of Tata Sons, invested in auto classifieds portal.
Analysts value CarDekho.com at nearly Rs 2,000 crore ($323.62 million), while Logix has a market cap of Rs 4,213.5 crore ($1 = 61.8000 Indian rupees)
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