McLeod Russel India rebounds 14% from intra-day low; hits new 52-week high
The stock moved higher to its fresh 52-week high of Rs 233, up 6%, bouncing back 14% from early morning low of Rs 205
 "McLeod Russel India falls 6% after block deal")
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McLeod Russel moved higher to its fresh 52-week high of Rs 233, up 6%, bouncing back 14% from early morning lows, after promoter of the company sold over 9% stake in the company through open market. The stock was down 6% to Rs 205 on the BSE in intra-day trade.
“Mr. Kamal Kishore Baheti, in his capacity as the Trustee for Borelli Tea Holdings Limited, informing that he has sold 10 million equity shares of Rs 5 each representing 9.14% of the paid-up share capital of our company today through market trades at the current market price,” McLeod Russel India said in a BSE filing.
As of September 30, 2017, Kamal Kishore Baheti (Trustee - Borelli Tea Holdings Limited) held 27.07% or 24.73% stake in McLeod Russel India, the shareholding pattern data shows.
In past two weeks, the stock of tea and coffee company outperformed the market by gaining 40% as compared to 0.76% rise in the S&P BSE Sensex.
At 10:40 AM; the stock was trading 4% higher at Rs 228 against 0.76% decline in the benchmark index. A combined 17.5 million shares changed hands on the counter on the BSE and NSE so far.
“Mr. Kamal Kishore Baheti, in his capacity as the Trustee for Borelli Tea Holdings Limited, informing that he has sold 10 million equity shares of Rs 5 each representing 9.14% of the paid-up share capital of our company today through market trades at the current market price,” McLeod Russel India said in a BSE filing.
As of September 30, 2017, Kamal Kishore Baheti (Trustee - Borelli Tea Holdings Limited) held 27.07% or 24.73% stake in McLeod Russel India, the shareholding pattern data shows.
In past two weeks, the stock of tea and coffee company outperformed the market by gaining 40% as compared to 0.76% rise in the S&P BSE Sensex.
At 10:40 AM; the stock was trading 4% higher at Rs 228 against 0.76% decline in the benchmark index. A combined 17.5 million shares changed hands on the counter on the BSE and NSE so far.