 "Lovable Lingerie extends gain on Reliance MF stake buy")
Lovable Lingerie has rallied 6% to Rs 286, extending its 5% surge in the past trading sessions on the BSE in an otherwise weak market after Reliance Mutual Fund (MF) increased its holding in the company through open market purchases.
On June 6, 2016, Reliance Capital Trustee Company A/c through various schemes of Reliance Mutual Fund had purchased 50,284 shares representing 0.30% stake in the company via open market, Lovable Lingerie said in a BSE filing.
Post acquisition, Reliance MF holdings in Lovable Lingerie increased to 5.03% from 4.73% earlier.
In past two-weeks, the stock outperformed the market by gaining 22% from Rs 234 on May 26, against 1.4% rise in the S&P BSE Sensex.
At 02:23 PM, the stock was up 3.4% at Rs 279 on the BSE as compared to 1% decline in the benchmark index. A combined 496,546 shares changed hands on the counter on the BSE an NSE so far.
On June 6, 2016, Reliance Capital Trustee Company A/c through various schemes of Reliance Mutual Fund had purchased 50,284 shares representing 0.30% stake in the company via open market, Lovable Lingerie said in a BSE filing.
Post acquisition, Reliance MF holdings in Lovable Lingerie increased to 5.03% from 4.73% earlier.
In past two-weeks, the stock outperformed the market by gaining 22% from Rs 234 on May 26, against 1.4% rise in the S&P BSE Sensex.
At 02:23 PM, the stock was up 3.4% at Rs 279 on the BSE as compared to 1% decline in the benchmark index. A combined 496,546 shares changed hands on the counter on the BSE an NSE so far.