Ceat has surged 6% to Rs 618, extending its Friday’s 10% rally, after the overseas investor has bought equity shares worth of Rs 13 crore of the company though open market.
MV SCIF Mauritius, part of US-based asset management company Van Eck Associates Corporation, on June 20, 2014 purchased 218,398 shares of Ceat at a price of Rs 575.11 per share, the NSE bulk deal data shows.
The stock opened at Rs 594 and touched a new high of Rs 624 on NSE. The counter has seen huge trading activity with a combined 1.79 million shares representing 5.06% of total equity of the company changing hands till 1105 hours on NSE and BSE.
Meanwhile, in past six trading the stock has outperformed the market by surging 40% from Rs 438 on June 13, 2014 compared to nearly 1% fall in benchmark CNX Nifty.
MV SCIF Mauritius, part of US-based asset management company Van Eck Associates Corporation, on June 20, 2014 purchased 218,398 shares of Ceat at a price of Rs 575.11 per share, the NSE bulk deal data shows.
The stock opened at Rs 594 and touched a new high of Rs 624 on NSE. The counter has seen huge trading activity with a combined 1.79 million shares representing 5.06% of total equity of the company changing hands till 1105 hours on NSE and BSE.
Meanwhile, in past six trading the stock has outperformed the market by surging 40% from Rs 438 on June 13, 2014 compared to nearly 1% fall in benchmark CNX Nifty.
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