Videocon Industries, KEC International, Alembic Pharmaceuticals and Bajaj Electricals are among the other gainers in the BSE's 'A' group today, 11 July 2017.
NIIT Technologies jumped 5.13% to Rs 593.85 at 14:20 IST. The stock topped the gainers in the BSE's 'A' group. On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.
Videocon Industries surged 4.88% at Rs 29. The stock was second biggest gainer in 'A' group. On the BSE, 32,000 shares were traded on the counter so far as against the average daily volumes of 12.53 lakh shares in the past two weeks.
KEC International advanced 4.55% to Rs 283.80, with the stock extending yesterday's gains triggered by the company securing new orders. The stock was third biggest gainer in 'A' group. On the BSE, 2.18 lakh shares were traded on the counter so far as against the average daily volumes of 79,000 shares in the past two weeks.
Alembic Pharmaceuticals gained 4.2% at Rs 537.80. The stock was fourth biggest gainer in 'A' group. On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 8,836 shares in the past two weeks.
Bajaj Electricals rose 3.87% to Rs 342.50. The stock was fifth biggest gainer in 'A' group. On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.
Bajaj Electricals had advanced a sum of Rs 3.80 crore to Starlite Lighting (SLL) as a short term loan inter-alia on the collateral security by way of pledge by the promoters of SLL of 38 lakh equity shares, 28% equity, held in SLL, under an agreement of pledge of shares dated 23 February 2007, with a right to the company to purchase the same, at its sole discretion, at a pre-determined consideration of Rs 3.50 lakh.
The company has now exercised its right to acquire these shares and with this acquisition, the shareholding of the company in SLL has increased from 19% to 47%. The above transaction falls within the purview of related party transactions. The announcement was made after market hours yesterday, 10 July 2017.
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