You are here: Home » Markets » News
Business Standard

Greaves Cotton advances 17% in two days as promoter increases stake in firm

Thus far in November, D B H International Private Limited and Karun Carpets have collectively bought 1.86 million equity shares of the company for Rs 13.67 crore.

Topics
Greaves Cotton  | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

stocks, india inc, markets, investment, shares, dividends, brokers, shares, company, firms, BSE, exchange, earnings, results, profit, loss, dividend payout, tax
The trading volumes on the counter more-than-doubled as around 12 million shares changed hands on the NSE and BSE.

Shares of gained 12 per cent to Rs 85.90 on the BSE in intra-day trade on Friday, thereby surging 17 per cent in the past two trading days after promoter increased stake in the company via open market purchases.

On Wednesday, November 25, 2020, D B H International Private Limited, the promoter group has acquired 207,500 equity shares of company at an average price of Rs 73.82 per share, according to disclosure made by company to the stock exchange.

Thus far in November, D B H International Private Limited and Karun Carpets Private Limited have collectively bought 1.86 million equity shares of the company for Rs 13.67 crore, data shows. CLICK HERE FOR FULL DETAILS

Meanwhile, Small World Fund Inc had sold 1.78 million equity shares, representing 0.77 per cent stake of Greaves Cotton, at Rs 74.45 per share on Thursday, November 26 via bulk deal on the BSE, the exchange data shows. The names of the buyers were not ascertained immediately.

Earlier, on November 19, Small World Fund Inc had offloaded 5.38 million shares or 2.32 per cent of its holding in the company via open market. The foreign portfolio investor held 18.5 million shares or 8 per cent stake in at the end of September quarter, the shareholding pattern data shows.

At 12:24 pm, the stock was trading 9 per cent higher at Rs 83.40 on the BSE, as compared to a 0.12 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled as around 12 million shares changed hands on the NSE and BSE.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 27 2020. 12:26 IST
RECOMMENDED FOR YOU
.