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Ashish Kacholia buys stake in Bodal Chemicals; stock surges 12%

On Tuesday, July 11, Ashish Kacholia purchased 1.2 million shares at price of Rs 165 per share

SI Reporter  |  Mumbai 

Bodal Chemicals office
Bodal Chemicals office

hit record high of Rs 187, up 12% on BSE in early morning trade, after investor acquired 1% stake in the company through open market.

On Tuesday, Ashish Ramchandra Kacholia purchased 1.2 million equity shares representing 1.1% of total equity of at an average price of Rs 165 per share, the BSE bulk deal data shows.

Bengal Finance and Investment Private Limited too, bought 725,275 shares of specialty chemicals Company at price of Rs 166.69, the data shows.

Rakeshbhai Ravjibhai Patel, the promoter of Bodal Chemicals, has sold almost its entire or 2.35 million (2.15% stake) for Rs 38.78 crore. He sold shares at price of Rs 165.05 per share. CLICK HERE FOR BULK DEAL DATA

At 09:42 am; the stock was trading 10% higher at Rs 183 on BSE as compared to 0.35% rise in the S&P BSE Sensex. A combined 1.12 million shares changed hands on the counter on BSE and NSE so far.

At the end of March 2017 quarter, hold stake in hold more than 1% stake in 18 companies include as APL Apollo Tubes, KEI Industries, GHCL, NOCIL, Parag Milk Foods and Vadilal Industries.

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