 "CMI surges on stake buys by GMO Emerging Domestic Opportunities Funds")
Shares of CMI has surged 18% to Rs 359 on the BSE in early morning trade after GMO-controlled funds bought more than 10% stake in telecom cables manufacturer for Rs 45 crore through open market transaction.
GMO Emerging Domestic Opportunities Funds and GMO Emerging Markets have collectively purchased 1.48 million equity shares representing 11.06% stake in CMI at price of Rs 304 per share.
On January 11, 2016 GMO Emerging Domestic Opportunities Funds bought 11.78 lakh shares, while GMO Emerging Markets purchased 3.01 lakh shares on the BSE, the bulk deal data shows.
The non-promoter shareholders Shashank Gupta and Devender Kumar Gupta HUF had sold 6 lakh shares each, while Shubham Gupta sold 3.25 lakh shares via bulk deals.
At 09:38 a.m. the stock was up 15% at Rs 352 as compared to 0.02% decline in S&P BSE Sensex. Around 69,000 shares changed hands on the counter on the BSE so far.
GMO Emerging Domestic Opportunities Funds and GMO Emerging Markets have collectively purchased 1.48 million equity shares representing 11.06% stake in CMI at price of Rs 304 per share.
On January 11, 2016 GMO Emerging Domestic Opportunities Funds bought 11.78 lakh shares, while GMO Emerging Markets purchased 3.01 lakh shares on the BSE, the bulk deal data shows.
The non-promoter shareholders Shashank Gupta and Devender Kumar Gupta HUF had sold 6 lakh shares each, while Shubham Gupta sold 3.25 lakh shares via bulk deals.
At 09:38 a.m. the stock was up 15% at Rs 352 as compared to 0.02% decline in S&P BSE Sensex. Around 69,000 shares changed hands on the counter on the BSE so far.
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