 "Aditya Birla Nuvo gains on promoters' stake buy")
Aditya Birla Nuvo has rallied 4% to Rs 837 on the BSE after the company announced that the promoters increased their stake in the company by more than one percentage points through open market purchase.
Turquoise Investments & Finance Private Ltd and TGS Investment & Trade Private Ltd, the promoters group company has acquired 1.6 million equity shares representing 1.23% of total equity of Aditya Birla Nuvo via open market during last week.
TGS Investment & Trade Private Ltd forming part of the promoters group of Aditya Birla Nuvo has acquired 11,64,301 equity shares or 0.89% stake in the company on 22nd March, 2016 and 23rd March, 2016 through stock exchange.
Consequent to the transaction, the shareholding of the company in Aditya Birla Nuvo has increased from 10.37% to 11.27%, TGS Investment & Trade Private Ltd said in a statement.
Turquoise Investments & Finance Private Limited, too forming part of the promoters group of Aditya Birla Nuvo has acquired 444,329 equity shares on 23rd March, 2016 through stock exchanges.
Post transaction, the shareholding of the company in Aditya Biral Nuvo has increased from 4.95% to 5.29%, Turquoise Investments & Finance Private Limited said in a statement.
In past four trading sessions, the stock gained 7% from Rs 780 on March 21, as compared to 1.4% decline in the S&P BSE Sensex.
Turquoise Investments & Finance Private Ltd and TGS Investment & Trade Private Ltd, the promoters group company has acquired 1.6 million equity shares representing 1.23% of total equity of Aditya Birla Nuvo via open market during last week.
TGS Investment & Trade Private Ltd forming part of the promoters group of Aditya Birla Nuvo has acquired 11,64,301 equity shares or 0.89% stake in the company on 22nd March, 2016 and 23rd March, 2016 through stock exchange.
Consequent to the transaction, the shareholding of the company in Aditya Birla Nuvo has increased from 10.37% to 11.27%, TGS Investment & Trade Private Ltd said in a statement.
Turquoise Investments & Finance Private Limited, too forming part of the promoters group of Aditya Birla Nuvo has acquired 444,329 equity shares on 23rd March, 2016 through stock exchanges.
Post transaction, the shareholding of the company in Aditya Biral Nuvo has increased from 4.95% to 5.29%, Turquoise Investments & Finance Private Limited said in a statement.
In past four trading sessions, the stock gained 7% from Rs 780 on March 21, as compared to 1.4% decline in the S&P BSE Sensex.
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