8K Miles Software hits record high on Sundaram BNP Paribas stake buy

The stock rallied 13% in two days after Sundaram BNP Paribas Mutual Fund bought 175,000 shares at Rs 332 per share.

SI Reporter Mumbai
Last Updated : Sep 18 2014 | 9:53 AM IST
8K Miles Software Services has gained 5% to reach Rs 371, extending its previous day’s 8% rally on BSE, after Sundaram BNP Paribas Mutual Fund bought nearly two percentage points stake in the internet software and services provider through open market.

On Wednesday, September 17, Sundaram BNP Paribas Mutual Fund bought 175,000 shares representing 1.74% stake in 8K Miles Software Services at Rs 331.95 per share, the BSE bulk deal data shows.

Meanwhile, on August 8, DSP Blackrock bought 303,529 shares representing 3% of total equity of 8K Miles Software Services at Rs 175 per share via open market.

The stock opened at Rs 361 and touched a record high of Rs 374 on BSE. In total, around 25,932 shares changed hands on the counter in early morning deals on BSE and NSE.

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First Published: Sep 18 2014 | 9:23 AM IST

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