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Likhitha Infrastructure Ltd.'s shares rallied for a second day rising nearly 5 percent in early trade on Thursday to hit a new 52-week high.

In its previous session on Wednesday, the Likhitha Infra stock surged almost 16 percent after renowned investor Ashish Kacholia acquired 3.97 lakh shares of the company, translating into 2 percent of its shareholding. According to the bulk deals data on the National Stock Exchange (NSE), the shares were bought at an average price of Rs 386 per unit.

Continuing the momentum on Thursday, the stock jumped another 4.9 percent to trade at a new 52-week high of Rs 494.15. The stock counter also saw a spurt in trading volumes, with the number of shares changing hands on the BSE jumping by more than 3.1 times in the morning itself.

Notably, the Likhitha Infrastructure stock has proven to be a multibagger for investors, climbing nearly 26 percent in the last month, 70 percent in the last six months, and a whopping 250 percent since its listing in October 2020.

The company was in the news recently as its board announced a stock split in the ratio of 1:2, with the record date for the same being December 2, 2022.

Likhitha Infrastructure is engaged in the business of laying pipelines -- providing comprehensive erection, testing, and commissioning of oil and gas pipelines, city gas distribution projects, and operation and maintenance services.

Shares of Likhitha Infrastructure are trading at Rs 481.80, up 2.57 percent.

(Edited by : Rukmani Krishna)