V-Mart Retail shares hit new high after promoter group rejigs stake

The stock hit a new high of Rs 2,103, up 11% on the BSE after promoters of the company re-align their shareholding in the company through block deals in early morning trade on Tuesday.

Shares of V-Mart Retail hit a new high of Rs 2,103 per share, up 11% on the BSE after promoters of the company re-align their shareholding in the company through block deals in early morning trade on Tuesday. The stock surpassed its previous high of Rs 1,990 per share touched on March 8, 2018 in intra-day trade.

At 09:30 am; the stock was trading 3% higher at Rs 1,951 as compared to 0.56% rise in the S&P BSE Sensex.
 

Around 7.49 million shares representing 41% total equity of V-Mart Retail changed hands through multiple block deals, the BSE data shows.

On March 20, 2018, V-Mart Retail had said that the promoter group entity Conquest Business Services Pvt Ltd will acquire an additional 41.38% stake, or 7.49 million shares, from five other promoters at up to 25% of Rs 1,689.01, or the volume weighted average market price of the shares for 60 trading days.

In past one year, the stock outperformed the market by surging 160% as compared to 13.8% rise in the Sensex.