Equity Intelligence India, the portfolio management company founded by ace investor Porinju Veliyath, has picked half a percent equity stake in Associated Alcohols & Breweries, the alcoholic beverages maker, via open market transaction on October 30.
May be as a result, Associated Alcohols & Breweries shares surged 17.5 percent to finish the session at Rs 1,228.5 on the NSE, witnessing a strong consolidation breakout, with highest-ever volumes.
Equity Intelligence India has acquired 1 lakh shares (equivalent to 0.52 percent of paid-up equity) in the Smirnoff and Black Dog-brand owner at Rs 1,160.6 per share for Rs 11.6 crore.
Meanwhile, BofA Securities Europe SA has net bought 7.62 lakh shares (0.51 percent stake) in Chennai Petroleum Corporation at Rs 868.59 per share, for Rs 66.2 crore.
Chennai Petroleum Corporation shares recorded 9.3 percent rally on Thursday to Rs 885 amid strong volumes. In fact, the week so far was healthy for the stock, which surged 14.6 percent.
Emergent Industrial Solutions was also in action, falling 1.13 percent to Rs 635.45 after exchange of over 1.5 percent equity. Isquare Global PE Fund acquired 72,000 shares (1.57 percent stake) in Emergent at Rs 610.6 per share for Rs 4.4 crore from Davos International Fund.
Also, there was a block deal in index heavyweight Reliance Industries, which was down 1.04 percent at Rs 1,488.50. BofA Securities Europe SA bought 2,95,600 shares (0.002 percent stake) in the company at Rs 1,475.5 per share for Rs 43.6 crore from Kadensa Master Fund.
Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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