KRBL extends rally on stake hike by promoters, stock surges 16%

Thus far in December the promoters of KRBL have purchased 4,48,500 equity shares or 0.43 per cent stake in the company

Shares of KRBL moved higher by 16 per cent to Rs 256 in the intra-day deals on Wednesday on the back of heavy volumes after its promoters increased their stake in the company through open market purchases.

The stock of the manufacturer of India Gate Basmati Rice was up 2 per cent on Tuesday. In comparison, the S&P BSE Sensex was up 0.47 per cent at 41,546 points at 01:08 pm.

The trading volumes on the counter jumped multiple-fold with a combined 1.45 million equity shares, representing 0.62 per cent of total equity of KRBL, changing hands on