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Bharat Wire share price hits upper circuit after Raamdeo Agrawal buys stake

The stock price witnessed spurt in volume by more than 62.39 times and was trading with volumes of 231,015 shares, compared to its five day average of 5,890 shares, an increase of 3,822.02 percent.

February 05, 2020 / 09:59 AM IST
 
 
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Bharat Wire Ropes share price jumped 20 percent to hit upper circuit of Rs. 32.40 per share on February 5 after Raamdeo Agrawal, the co-founder of Motilal Oswal Financial Services, bought 9,42,109 shares of the company through a bulk deal on NSE on February 4, data available with the exchange showed.

The transaction was carried out at an average price of Rs 26.25 per share, taking the total value of the purchase to nearly Rs 2.47 crore.

Brokerage firm Motilal Oswal Financial Services also bought 9,42,108 shares of the company at an average price of Rs 26.25 per share for nearly Rs 2.47 crore.

On the other hand, Mumbai-based firm Osag Enterprises LLP - whose designated partner is said to be Motilal Oswal and Raamdeo Agrawal- sold 18,84,217 shares of Bharat Wire Ropes at an average price of Rs 26.25 per share for Rs 4.95 crore through a bulk deal on NSE.

The stock price witnessed a spurt in volume by more than 62.39 times and was trading with volumes of 2,31,015 shares, compared to its five day average of 5,890 shares, an increase of 3,822.02 percent.

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The stock price has gained over 23 percent in the last three days and was quoting at Rs 32.40, up Rs 5.40, or 20 percent.
Moneycontrol News
first published: Feb 5, 2020 09:59 am

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