Arihant Superstructures hits new high as L&T Mutual Fund buys stake

The stock surged 12% to Rs 154 on the NSE

KKR eyes big-ticket realty deals
SI Reporter Mumbai
Last Updated : Apr 27 2017 | 1:58 PM IST
Arihant Superstructures surged 12% to Rs 154 on National Stock Exchange (NSE) after the L&T Mutual Fund bought more than 2% stake in the realty firm through open market.

On Wednesday, April 26, 2017, L&T Mutual Fund A/c L&T Monthly Income Plan had purchased 950,000 equity shares representing 2.3% stake in realty Company at Rs 130.25 per share, the NSE bulk deal data shows. CLICK HERE TO READ FULL REPORT

India Opportunities Growth Fund Ltd, Pinewood Strategy had sold nearly entire its stake or 950,000 shares at Rs 130.25 per share, data shows.

As of March 31, 2017, India Opportunities Growth Fund Ltd, Pinewood Strategy held 964,151 shares or 2.34% stake in Arihant Superstructures, according to shareholding pattern.

On Tuesday, April 25, Arihant Superstructures, a real estate company with dominant presence in the affordable housing segment announced offers on affordable 2BHK in Jodhpur under Mukhya Mantri Jan Awas Yojna 2015. The company has tie up with Axis bank for the application form for ease access for the common man.

At 01:50 pm; the stock was up 8% at Rs 149 on NSE as compared to 0.10% rise in the Nifty 50 index. A combined 682,939 shares changed hands on the counter on NSE and BSE so far.
 

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Next Story