Mayur Uniquoters extends gain on stake buy by Smallcap World Fund

The stock was trading 2% higher at Rs 528, extending its previous day's 5% gain on the BSE, after Smallcap World Fund bought 1.93% stake in the company via open market

Mayur Uniquoters was trading 2% higher at Rs 528, extending its previous day’s 5% gain on the BSE, after the foreign portfolio investor (FPI) bought nearly two percentage point stake in textiles Company through open market.

On Thursday, March 8, 2018, Smallcap World Fund Inc, had purchased a combined 875,586 shares representing 1.93% stake in Mayur Uniquoters at price of Rs 509 per share on the BSE and NSE, the bulk deal data shows. CLICK HERE FOR BULK DEAL DATA

DBS Chola Mutual Fund Mother Code sold 437,500 shares or 0.96% stake at Rs 509 per share on the BSE. The name of sellers on the NSE not ascertained immediately.

Smallcap World Fund Inc held 5.32% stake in the company as of February 24, 2018, the shareholding pattern data shows.

The stock hit high of Rs 532 in early morning trade today. It touched an all-time high of Rs 568 on January 15, 2018 in intra-day trade.

In past six months, the stock outperformed the market by surging 45% against 5.6% rise in the S&P BSE Sensex.

Mayur Uniquoters is the largest manufacturer of artificial leather/ PVC vinyl. The company's product finds application in shoes, garments, luggage, sports goods and upholstery, and is used as a substitute for real/natural leather.