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Som Distilleries zooms over 30% in two days on Porinju Veliyath stake buy

The stock hit 52-week high of Rs 263, up 12% on NSE, extending its Wednesday's 20% rally, after Porinju Veliyath along with Equity Intelligence India bought 2.4% stake in the company

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SI Reporter Mumbai
Som Distilleries & Breweries hit 52-week high of Rs 263, up 12% on the National Stock Exchange (NSE) in early morning trade, extending its Wednesday’s 20% rally, after Porinju Veliyath along with Equity Intelligence India bought more than 2% stake in the company through open market.

On Wednesday, January 10, 2018, Porinju Veliyath and Equity Intelligence India had collectively bought 650,000 shares representing 2.4% stake in Som Distilleries & Breweries through block deals on NSE, the exchange data shows.

Porinju Veliyath, Managing Director & Portfolio manager of Equity Intelligence India, had purchased 150,000 shares at a price of