Leel Electricals spurts after investor ups stake

Leel Electricals rose 5.36% to Rs 287 at 11:46 IST on BSE after a fund management company increased its stake in the firm.

The company made the disclosure during trading hours today, 29 September 2017.

Meanwhile, the S&P BSE Sensex was up 151.21 points, or 0.48% to 31,433.69.

On the BSE, 1.72 lakh shares were traded in the counter so far, compared with average daily volumes of 1.20 lakh shares in the past one quarter. The stock had hit a high of Rs 292.55 and a low of Rs 283 so far during the day.

Equity Intelligence bought 0.4% stake in Leel Electricals as per company's latest disclosures. With this, the total shareholding of Equity Intelligence in the company increased to 5.36%.

Well known investor Porinju Veliyath is the founder & CEO of Equity Intelligence.

Net profit of LEEL Electricals declined 23.7% to Rs 33.48 crore on 3.3% rise in net sales to Rs 922.88 crore in Q1 June 2017 over Q1 June 2016.

LEEL Electricals supplies high quality coils to original equipment manufacturers of heating, ventilation, air conditioning and refrigeration equipment.

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