Volumes jump at Idea Cellular counter

Jammu & Kashmir Bank, Shalimar Paints, Pennar Industries and Dolphin Offshore Enterprises (India) are among the other stocks to see a surge in volumes on BSE today, 3 September 2014.

Idea Cellular clocked volume of 9.69 crore shares by 12:52 IST on BSE, a 73.45-times surge over two-week average daily volume of 13.21 lakh shares. The stock dropped 3.08% at Rs 167.05. Multiple block deals were executed on the counter in opening trade on BSE today, 4 September 2014. Reportedly US-based private equity (PE) investor Providence Equity Partners has reduced its stake in Idea Cellular through block deals today, 4 September 2014. As of end of 30 June 2014, Providence Equity Partners held 33 crore shares or 9.31% stake in Idea Cellular through P5 Asia Investments (Mauritius).

Jammu & Kashmir Bank notched up volume of 3.76 lakh shares, a 23.80-fold surge over two-week average daily volume of 15,000 shares. The stock gained 6.34% at Rs 168. Shares of the bank turned 10-for-1 ex-split from today, 4 September 2014.

Shalimar Paints saw volume of 4.79 lakh shares, a 17.09-fold surge over two-week average daily volume of 28,000 shares. The stock galloped 16.69% at Rs 109.75.

Pennar Industries clocked volume of 53.47 lakh shares, a 11.62-fold surge over two-week average daily volume of 4.60 lakh shares. The stock rose 9.98% at Rs 46.85.

Dolphin Offshore Enterprises (India) saw volume of 9.64 lakh shares, a 8.81-fold rise over two-week average daily volume of 1.09 lakh shares. The stock surged 8.48% at Rs 109.40.

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