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Aries Agro zooms 41% in two days as ace investor Vijay Kedia buys 2% stake

The stock hit 52-week high of Rs 244, surges 41% in past two trading sessions from Rs 172.45 on Friday, October 13.

SI Reporter  |  Mumbai 

Fertilizers, Farmers

soared 18% to Rs 244, extending its previous day’s rally on the National Stock Exchange (NSE) after ace investor Vijay Kishanlal Kedia hiked stakes in the fertiliser company by nearly two percentage points via open market purchases.

The stock is now trading at its 52-week high level, surging 41% in the last two trading sessions from Rs 172.45 on Friday, October 13.

On Monday, Vijay Kishanlal Kedia purchased 260,000 shares representing 2% stake in through open market. He bought these shares at an average price of Rs 199.93 per share on the NSE, the bulk deal data shows. CLICK HERE FOR BULK DEAL DATA

The name of the sellers could not be ascertained immediately.

As of September 30, 2017, Vijay Kishanlal Kedia hold 238,091 equity shares or 1.83% stake in Vijay Kishanlal Kedia – Partnership Firm hold 410,921 shares or 3.16% holding in the company, the shareholding pattern data shows.

At 11:06 AM; the stock was trading 15% higher at Rs 238 on the NSE, as compared to 0.13% rise in the Nifty50 index. It is trading close to its record high of Rs 265 touched on January 14, 2008 in intra-day trade.

The trading volumes on the counter jumped more than three-fold with a combined 3.43 million shares changed hands on the NSE and BSE so far.

First Published: Tue, October 17 2017. 11:16 IST