Stake sale by ICICI Bank bolsters Mascon Global

DALAL STREET SPIKES

Mascon Global hit a 5 per cent upper circuit at Rs 25.45 after ICICI Bank agreed to sell its 5.01 per cent stake to the company's executive chairman and chief executive officer K Chandra.

The stock hit a high of Rs 25.45, which is also a 52 week high. It had hit an intra-day low of Rs 25. The scrip had touched a 52 week low of Rs 8.10 on 29 March 2007. After acquiring stake from ICICI Bank, Chandra's stake will go up to 9.26 per cent from 4.25 per cent.