Allcargo Logistics hits record high on FII buying

On July 1, 2014 Orange Mauritius Investments purchased 2.49 million shares of Allcargo at a price of Rs 244.97 per share.

Allcargo Logistics is trading higher by 3% to Rs 268, extending its previous day’s 10% rally, after the overseas investor has bought nearly 2 per centage points stake in the company for Rs 61 crore though open market.

Orange Mauritius Investments on July 1, 2014 purchased 2.49 million shares representing 1.98% stake of Allcargo Logistics at a price of Rs 244.97 per share, the NSE bulk deal data shows.

Meanwhile, Shashi Kiran Shetty, the promoter of the company, has sold 3 million shares of the company at a price of Rs 245 per share, data shows.

The stock opened at Rs 272 and touched a new high of Rs 272 on NSE. The counter has seen huge trading activity with a combined 508,850 million shares changing hands in early morning deals on NSE and BSE.