Shoppers Stop rose 2.36% to Rs 503.85 at 10:52 IST on BSE after Aditya Birla Sun Life Mutual Fund purchased an additional 2% stake in the company.
The announcement was made after market hours yesterday, 2 July 2019.
Meanwhile, S&P BSE Sensex was up 29.18 points or 0.07% at 39,845.66.
On BSE, 3,165 shares were traded in Shoppers Stop counter, compared to a 2-week average of 560 shares. The share price hit an intraday high of Rs 510.20 and an intraday low of Rs 497.75. It hit a 52-week high of Rs 690 on 3 September 2018 and a 52-week low of Rs 432.25 on 9 April 2019.
Aditya Birla Sun Life Mutual Fund bought 19.81 lakh equity shares or 2% stake in Shoppers Stop from the open market on 28 June 2019. Post acquisition, Aditya Birla Sun Life Mutual Fund's stake in Shoppers Stop has increased to 7.01% from 5.01% earlier.
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Shoppers Stop's net profit fell 44.9% to Rs 11.45 crore on 6.9% decline in net sales to Rs 791.06 crore in Q4 March 2019 over Q4 March 2018.
Shoppers Stop stores has clothing brands for men, women, and kids, accessories, fragrances, cosmetics, footwear; home furnishing and decor products.
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