Bombay Dyeing peaks despite block deal

DALAL STREET SPIKES

Shares of Bombay Dyeing went up 8.43 per cent to Rs 144.30 on the Bombay Stock Exchange (BSE) where it was frozen. On the National Stock Exchange (NSE) the scrip opened at Rs 144.75 and went up to close at Rs 159.65 up by 8.35 per cent.

The gains came despite a block deal on the counter when GMO Emerging Markets Fund sold 7.8 lakh shares of the company at a price of Rs 143.05 per share.

Volumes on the counter was of the order of 51,000 shares on the Bombay Stock Exchange and 16.28 lakh shares on the NSE.

The scrip has not been a uniform performer on the bourses. During most of July the scrip was on the rise and since it has been falling steadily.

The company's results for the first quarter have been fairly impressive.