New Delhi, April 29 -- Multibagger small-cap stock AVI Polymers hit its 5% upper circuit of Rs.19.02 on Wednesday, 29 April, after the firm announced that its promoters are planning to raise stake by up to 5% via open market buys after sharp financial turnaround

According to the exchange filing, the proposed acquisition will be carried out in a phased manner over the coming months, in line with regulatory limits prescribed under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, as well as insider trading norms. The company said it will continue to make necessary disclosures as and when transactions are executed.

The filing informed that the promoter group's move comes after a dramatic improvement in the co...