Century Textile rallies after investor Damani buys stake

Reuters Market Eye - Century Textile and Industries Ltd surges after Derive Investments a company owned by high net worth individual Radhakishan Damani bought a stake in the company in a block deal on Thursday.

Derive Investments, an investment company run by Damani who is known in India for his stock picks, bought 0.72 million shares in the company at an average price of 569.28 rupees per share, NSE data shows.

Century Textile and Industries shares were up 3.2 percent as of 1:24 p.m.

(Reporting by Abhishek Vishnoi)