GHCL surges 9% after DSP Blackrock Mutual Fund buys stakes

The stock hit a new high of 299 after the DSP Blackrock Mutual Fund bought 950,528 shares at Rs 272

GHCL hits a record high of Rs 299, up 9% on the BSE in early morning trade after the DSP Blackrock Mutual Fund bought nearly one percentage point stake in the commodity chemicals company through open market.

On the National Stock Exchange (NSE), the stock hit a high of Rs 298, up 9% against its Friday’s close of Rs 274.

On November 24, 2017, DSP Blackrock Mutual Fund A/c DSP Blackrock Micro Cap Fund had purchased 950,528 equity shares representing 0.98% stake in GHCL at price of Rs 272 per share on the NSE, the bulk deal data shows.

Bhoomi Dis Family Trust had sold 1.1 million shares representing 1.1% stake in GHCL at price of Rs 272.03 per share, data shows. CLICK HERE FOR BULK DEALS DATA

The name of the other buyers not immediately ascertained.

At 09:55 AM; the stock was up 7% at Rs 294 on the NSE, as compared to 0.35% decline in the Nifty 50 index. A combined 3.09 million shares changed hands on the counter on the BSE and NSE.