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Last Updated : Jan 01, 2014 03:14 PM IST | Source: Moneycontrol.com

Transport Corporation up 15% as Damani picks up 3.5% stake

The stock gained as much as 14.6 percent intraday to touch Rs 98 apiece, the highest level since July 19, 2011.

 
 
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Moneycontrol Bureau


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.

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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.



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First Published on Jan 1, 2014 03:14 pm
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