Shoppers Stop jumps after IDFC MF buys stake

Shoppers Stop jumped 5.33% to Rs 338.65 at 13:50 IST on BSE after IDFC Mutual Fund bought the company's shares through open market on Thursday, 28 November 2013.

Meanwhile, the BSE Sensex was up 238.67 points, or 1.16%, to 20,773.58.

On BSE, 5.02 lakh shares were traded in the counter compared with average volume of 29,296 shares in the past one quarter.

The stock hit a high of Rs 365.05 and a low of Rs 321.25 so far during the day. The stock hit a 52-week high of Rs 494 on 5 December 2012. The stock hit a 52-week low of Rs 317.70 on 28 October 2013.

The stock had underperformed the market over the past one month till 28 November 2013, sliding 2.22% compared with the Sensex's 0.17% fall. The scrip had also underperformed the market in past one quarter, falling 6.81% as against Sensex's 14.11% rise.

The small-cap company has an equity capital of Rs 41.53 crore. Face value per share is Rs 5.

On Thursday, 28 November 2013, IDFC Mutual Fund's IDFC Premier Equity Fund bought 9.99 lakh equity shares, or 1.20% stake, of Shoppers Stop at Rs 321.25 each on NSE.

However, Eastspring Investments India Equity Open sold 7.58 lakh equity shares, or 0.91% stake, of Shoppers Stop on NSE at Rs 321.25 per share.

As on 30 September 2013, Eastspring Investments India Equity Open held 13.29 lakh equity shares, or 1.60% in Shoppers Stop.

Shoppers Stop's net profit rose 55.24% to Rs 9.92 crore on 25.29% rise in net sales to Rs 718.06 crore in Q2 September 2013 over Q2 September 2012.

Shoppers Stop runs department stores that sell apparel, cosmetics and fashion accessories.

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