Kirloskar Brothers soars 18% on promoter stake buy
Pratima Kirloskar has bought an additional 13,375 shares of Kirloskar Brothers from open market.
Kirloskar Brothers has soared 18% to Rs 300, also its 52-week high on NSE, after the company said that its promoter has raised their stake in the company through open market.
Pratima Sanjay Kirloskar, the promoter of the company, has bought an additional 13,375 shares representing of the company between May 25 and May 26, 2014 on NSE, Kirloskar Brothers said in a statement.
Post acquisition, total holding of Pratima Sanjay Kirloskar in the company increased to 17.33% from 17.31%, it added.
The stock opened at Rs 253 and touched a low of Rs 248 on NSE. The trading volume on the counter more than doubled with a combined 80,567 shares changing hands till 1435 hours.
Pratima Sanjay Kirloskar, the promoter of the company, has bought an additional 13,375 shares representing of the company between May 25 and May 26, 2014 on NSE, Kirloskar Brothers said in a statement.
Post acquisition, total holding of Pratima Sanjay Kirloskar in the company increased to 17.33% from 17.31%, it added.
The stock opened at Rs 253 and touched a low of Rs 248 on NSE. The trading volume on the counter more than doubled with a combined 80,567 shares changing hands till 1435 hours.
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First Published: Jun 30 2014 | 2:38 PM IST