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Lumax Industries rallied 8% to Rs 1,575 on BSE in intra-day trade on Wednesday, extending its Tuesday’s 6% gain, after the investor Ashish Kacholia bought nearly one percentage point stake in the company through open market. On Tuesday, Ashish Ramchandra Kacholia purchased 62,837 equity shares representing 0.67% stake in Lumax Industries at price of Rs 1,395.36 per share, the BSE bulk deal data shows. The name of the seller not ascertained immediately. At 10:53 AM; the stock was trading 3% higher at Rs 1,503, rallied 16% in past one week.
On comparison, the S&P BSE Sensex was up 1.3%. The stock hit a record high of Rs 1,610 on June 13, 2017 in intra-day trade. Ashish Kacholia hold more than 1% stake in a dozen of companies which includes KEI Industries, Parag Milk Foods, DFM Foods, GHCL, NOCIL, Aptech and Ashiana Housing.