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Tata Coffee hits record high after Equity Intelligence buys stake

The stock hit a record high of Rs 175, up 17%, extending its yesterday's nearly 4% gain on the NSE

SI Reporter  |  Mumbai 

Tata Coffee Grand

hit a record high of Rs 175, up 17%, extending yesterday’s nearly 4% gain on the National Stock Exchange (NSE), after Equity Intelligence bought one million shares of Tata Group Company through open market.

On September 11, 2017, acquired 1,000,000 equity shares representing 0.53% stake in at price of Rs 150 per share on NSE, the bulk deal data shows. CLICK HERE FOR BULK DEAL DATA

Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India.

F. Born A G has sold 1.5 million shares of the company through open market. As on June 30, 2017, F. Born A G held 7.5 million shares or 4.03% stake in Tata Coffee, the shareholding pattern data shows. The names of the other buyers not ascertained immediately.

At 12:57 PM, the stock was up 11% at Rs 166 on NSE, as compared to 0.48% rise in the benchmark Nifty50. A combined 6.75 million shares have changed hands on the counter on NSE and BSE so far.

First Published: Tue, September 12 2017. 13:01 IST