Warren Tea at life-time high, zooms 80% in one week
Warren Tea stands tall amid today's equity market carnage. The stock rallied 8% at Rs 556 on the Bombay Stock Exchange (BSE).
In fact, the stock has zoomed 81% in the last one week and is currently trading at its new high after a promoter of Asian Hotels (East) acquired stake in the company via open market purchase on Tuesday.
Radhe Shyam Saraf had bought 0.48 million shares, or 4.5%, equity of Warren Tea through bulk deal on the BSE. The promoters owned 83.5% while the public held the rest 16.5% equity as on March 31, 2011.
The stock opened at Rs 505 and hit a high of Rs 559 on the BSE. Around 29,000 shares have changed hands on the counter till 1,022 hours.