Apar Industries has rallied 4% to Rs 480, extending its previous day’s 8% gain on the BSE, on back of fund buying. HDFC Mutual Fund and Fidelity India Fund have bought a combined 1.64 million shares representing 4.25% stake in Apar Industries for Rs 71.50 crore via open market. On November 16, 2015 HDFC Mutual Fund Bought 900,000 shares of Apar Industries though it’s various schemes at price of Rs 436 per share on NSE. Fidelity India Fund purchased 735,387 shares of the company at Rs 436 a piece on BSE, the bulk deal data shows. Meanwhile, AIL Benefit Trust, the promoter of the company sold 1.64 million shares via bulk deals. Apar Industries offers value added products and services in power transmission conductors, petroleum specialities and power cables. At 09:44 AM, the stock was up 1% at Rs 466 on the BSE.
A combined 132,867 shares changed hands on the counter on the BSE and NSE.