HCL Infosystems extends rally after RK Damani's Derive Investments buys stake
The stock rallied 10% to Rs 56.90, extending its previous day's 20% rally after Derive Investments bought 1.8% stake in HCL Infosystems via open market.
 "HCL Infosystems extends rally after RK Damani's Derive Investments buys stake")
HCL Infosystems has rallied 10% to Rs 56.90, extending its previous day’s 20% rally on the BSE, after Derive Investments, an investment company run by Radhakishan Damani, bought nearly two percentage point’s stake in the company at an average price of Rs 49.38 apiece through open market.
On Wednesday, October 7, 2015, Derive Investments purchased 4.02 million equity shares or 1.8% stake of HCL Infosystems for Rs 19.85 crore via open market, the NSE and BSE bulk deal data shows.
Derive Investment bought 2.86 million shares at Rs 48.90 per share on the NSE, while 1.16 million shares at Rs 49.85 per share on the BSE, data shows.
However, the name of the sellers is not disclosed by the company.
At 09:16 am, the stock was up 8.5% at Rs 56.15 on the BSE. A combined 2.4 million shares changed hands on the counter on the BSE and NSE.
On Wednesday, October 7, 2015, Derive Investments purchased 4.02 million equity shares or 1.8% stake of HCL Infosystems for Rs 19.85 crore via open market, the NSE and BSE bulk deal data shows.
Derive Investment bought 2.86 million shares at Rs 48.90 per share on the NSE, while 1.16 million shares at Rs 49.85 per share on the BSE, data shows.
However, the name of the sellers is not disclosed by the company.
At 09:16 am, the stock was up 8.5% at Rs 56.15 on the BSE. A combined 2.4 million shares changed hands on the counter on the BSE and NSE.