Ador Welding surges over 10% on fund buying

On May 28, Sundaram Mutual Fund purchased 170,000 equity shares of Ador Welding at Rs 209.50 per share.

Shares of Ador Welding have soared 17% to Rs 245 on the BSE in intra-day trades after Sundaram Mutual Fund bought an additional stake in the company though the open market.

On May 28, Sundaram Mutual Fund had purchased 170,000 equity shares, representing 1.25% stake of Ador Welding at an average price of Rs 209.50 per share, the BSE bulk deal data shows.

A combined 44,511 shares changed hands on the counter on the BSE and NSE so far.

At 1200 hours, the stock was up 12% at Rs 234 on the BSE.