Timbor Home hits 52-week high, surges 20%

Bennett Coleman & Co had offloaded 2.2 million shares of the company for Rs 7.7 crore through open market transaction so far in current month.

Timbor Home has surged 20% to Rs 45.80, also its 52-week high, in otherwise weak market on back of heavy volumes. A combined 2.14 million shares have changed hands on the counter till late noon deals against an average less than 600,000 shares that were traded daily in past two weeks.

On December 26, 2012 Bennett Coleman & Co the country’s biggest media house, had sold one million shares of the company at price of Rs 34.25 per share via bulk deals.

Bennett Coleman & Co had offloaded almost 75% or 2.2 million shares of the company for Rs 7.7 crore through open market transaction so far in current month. As on September 30, 2012, Bennett Coleman & Co held 2.93 million shares or 19.88% stake in the company, the BSE data shows.
 
Timbor Home is an international manufacturer and retailer of solid wood furniture, modular kitchens and doors.