 "Sobha rallies on foreign investor buying")
Shares of real estate developer Sobha has rallied 5% to Rs 493 on BSE after a foreign investor Platinum Investment Management Limited acquired over 300,000 shares of the company through open market.
On December 19, 2014, Platinum Investment Management Limited purchased 320,000 shares representing 0.32% of the total equity of the company via open market, Sobha said in a statement.
Platinum Investment Management Limited is an Australian based fund manager which specialises in investing in international equities.
Post acquisition, Platinum Investment Management holding in Sobha increased to 5.06% from 4.74% earlier.
The stock opened at Rs 480 and hit a high of Rs 498 on NSE. A combined around 90,000 shares changed hands on the counter till 0943 hours on NSE and BSE.
On December 19, 2014, Platinum Investment Management Limited purchased 320,000 shares representing 0.32% of the total equity of the company via open market, Sobha said in a statement.
Platinum Investment Management Limited is an Australian based fund manager which specialises in investing in international equities.
Post acquisition, Platinum Investment Management holding in Sobha increased to 5.06% from 4.74% earlier.
The stock opened at Rs 480 and hit a high of Rs 498 on NSE. A combined around 90,000 shares changed hands on the counter till 0943 hours on NSE and BSE.