Cochin Shipyard leaps 5% after Radhakishan Damani picks up 0.5% stake

On October 22, 2020, Damani acquired 694,646 equity shares, representing 0.53 per cent stake, in Cochin Shipyard at Rs 349.14 per share on the NSE

Shares of Cochin Shipyard (CSL) leaped 5 per cent to Rs 378 on the National Stock Exchange (NSE) on Friday after investor Radhakishan Damani acquired 0.53 per cent stake in the shipping company through open market. The stock has now surged 16 per cent in two trading days.

On October 22, 2020, Radhakishan Damani acquired 694,646 equity shares, representing 0.53 per cent stake, in Cochin Shipyard at Rs 349.14 per share on the NSE, the bulk deal data shows. The name of seller was not ascertained immediately.

In the past three trading days, the stock has rallied 18 per