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Last Updated : Apr 22, 2020 10:01 AM IST | Source: Moneycontrol.com

Shalimar Paints share price jumps 8% after Porinju Veliyath picks up stake

Porinju has acquired 10 lakh shares of the company during the quarter, as per the shareholding pattern available on the exchange.

 
 
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Share price of paints manufacturing company Shalimar Paints jumped over 8 percent intraday on April 22 after Equity Intelligence India Private Limited, the fund management firm owned by Kochi-based investor Porinju Veliyath, picked up a 1.84 percent stake in the company during January-March period of 2020.

Porinju has acquired 10 lakh shares of the company during the quarter, as per the shareholding pattern available on the exchange.

Among others, Delhi-based Assured Fin - Cap Private Limited also bought 6,95,402 shares (representing 1.28 percent of total paid-up equity) of the company during March quarter.

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The stock price surged over 43 percent in the last one month and was quoting at Rs 68.05, up Rs 4.70, or 7.42 percent at 09:22 hours. The stock witnessed a spurt in volume by more than 1.36 times and was trading with volumes of 22,453 shares, compared to its thirty-day average of 16,769 shares, an increase of 33.90 percent.
First Published on Apr 22, 2020 10:01 am
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