The stock gained as much as 14.6 percent intraday to touch Rs 98 apiece, the highest level since July 19, 2011.
Shares of Transport Corporation of India are on buyers' radar on Wednesday after Derive Investments picked up 3.5 percent stake in the company in earlier session. The stock gained as much as 14.6 percent intraday to touch Rs 98 apiece, the highest level since July 19, 2011.
Derive Investments, an investment company run by Radhakishan Damani, purchased 25,48,900 shares at Rs 78 apiece while FIL Investments (Mauritius) sold 28,51,863 shares at Rs 78.01 apiece through block deals on Tuesday.
Meanwhile, Derive Investments also bought 1.6 percent stake in Gati via two block deals of nearly 14 lakh shares on Monday.
At 13:23 hours IST, Transport Corporation of India stock rose 9.59 percent to Rs 93.70 amid large volumes, in addition to a 13.77 percent upmove in previous session.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.