Goldiam International zooms 54% in four days; stock hits 52-week high

In the past four trading days, the stock has rallied 54 per cent from the level of Rs 76.20 on April 26, 2019, as compared to a 1 per cent decline in the benchmark Nifty 50 index

Goldiam International surged by 15 per cent to Rs 117, also its 52-week high, in intra-day trade on the National Stock Exchange (NSE) on Monday, in an otherwise weak market after investor Ramesh Damani bought more than 1 percentage point stake in the company through open market.

In the past four trading days, the stock has rallied 54 per cent from the level of Rs 76.20 on April 26, 2019, as compared to 1 per cent decline in the benchmark Nifty 50 index.

On Tuesday, April 30, 2019, Ramesh S Damani had acquired 300,000 shares representing 1.3 per cent of total equity worth of Rs 2.55 crore of Goldiam International from open market. Ramesh Damani purchased shares at price of Rs 85 per share, the NSE bulk deal data shows.

Diajwel N V had offloaded 500,000 shares or 2.17 per cent stake in Goldiam International via bulk deal. Diajewel NV operates as a diamond cutting and polishing manufacturer. It held 3.46 per cent holding in the company as on March 31, 2019, the shareholding pattern data shows. CLICK HERE FOR BULK DEAL DATA

The names of the buyers were not ascertained immediately.

At 12:40 pm, the stock of Goldiam International was up 12 per cent at Rs 113 on the NSE. In comparison, the Nifty 50 index was down 0.82 per cent at 11,616 points. A combined 897,809 shares have changed hands on the counter on the NSE and BSE so far.