Liberty Shoes zooms 39% in two days after Equity Intelligence buys 2% stake

The stock hit 52-week high of Rs 283, up 16% in intra-day trade, extending its previous day's rally on NSE.

Liberty Shoes hit 52-week high of Rs 283, up 16% on the National Stock Exchange (NSE), extending its Monday’s rally after Equity Intelligence India bought nearly two percentage points stake in footwear company through open market. Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India.

On September 11, 2017, Equity Intelligence India Private Limited (PMS) acquired 321,308 equity shares representing 1.88% stake in Liberty Shoes at price of Rs 235.48 per share on NSE, the bulk deal data shows.

Elasmma Joseph also bought 125,000 shares of Liberty Shoes at Rs 223.06 per share, while EQ India Fund purchased 113,000 shares at Rs 210.70 per share, data shows. CLICK HERE FOR BULK DEAL DATA

The names of the sellers were not ascertained immediately.

In past two trading sessions, the stock zoomed 39% from Rs 203 on Friday, September 8, 2017, against 1.2% rise in the benchmark Nifty50 index.

At 10:52 AM; it was up 13% at Rs 276 on back of heavy volumes. A combined 2.51 million shares or 14.7% of total equity have changed hands on the counter on NSE and BSE so far.