Tilaknagar Inds hits 52-week high on huge volumes
Shivani Amit Dahanukar has released 1.79 million pledge shares so far in October.
Tilaknagar Industries has surged over 9% to Rs 69.40, also its 52-week high on back of over three-fold jump in trading volumes. As many as 3.92 million shares have already changed hands on the counter till early noon deals as against an average around one million shares that were traded daily in past two weeks.
The stock of breweries and distilleries has outperformed the market by rising 29% in past three days on the Bombay Stock Exchange compared to a marginal 0.11% fall in benchmark Sensex.
The promoter of the company has revoked part of its pledge shares in past two weeks. “Shivani Amit Dahanukar has released 1.79 million pledge shares so far in October,” the company said in a regulatory filing.
Meanwhile, the media report suggests that the company plans to acquire interests in an alcoholic beverage manufacturing company in North India.