Arvind Infra up 10%, Veliyath Porinju picks up small stake

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Moneycontrol Bureau

Shares of Arvind Infrastructure rallied 10 percent after ace investor Veliyath Porinju has picked up 0.6 percent equity stake in Arvind's subsidiary.

Sunny Veliyath Porinju of Equity Intelligence India has bought 1.6 lakh shares of the company at Rs 35.6 apiece through block deal on Friday.

However, Sundaram BNP Paribas sold 2.19 lakh shares at Rs 34.4 and Norges Bank sold 3.14 lakh shares at Rs 35.4 apiece in previous trading session.

Arvind Infrastructure, real estate subsidiary of textile company Arvind, listed on stock exchanges on August 26.

Promoter and promoter group have 43.76 percent shareholding in the company as of June 2015. LIC is the biggest (public) shareholder in the company with 6 percent stake followed by Multiples Private Equity FII I (3.12 percent stake), Government Pension Fund Global (2.15 percent), Dimensional Emerging Markets Value Fund (1.49 percent), Multiples Private Equity Fund (1.06 percent) and Sundaram Mutual Fund (1.05 percent).

At 09:42 hours IST, Arvind Infrastructure was quoting at Rs 39.45, up Rs 3.55, or 9.89 percent.Posted by Sunil Shankar Matkar