Lux Industries hits record high on stake buy by Reliance Mutual Fund

Reliance MF acquired 1.76% stake in Lux Industries at price of Rs 900 per share on BSE

Lux Industries rallied to its record high of Rs 1,004, up 11% on BSE in intra-day trade, after Reliance Mutual Fund bought nearly two percentage point stake in hosiery Company via open market.

On Tuesday, June 13, 2017, Reliance Mutual Fund had acquired 444,103 equity shares representing 1.76% stake in Lux Industries at price of Rs 900 per share, the BSE bulk deal data shows.

Valued Securities Private Limited had sold its entire 2.23% or 562,002 shares at an average price of Rs 901.64 per share. CLICK HERE FOR BULK DEAL INFORMATION

The names of the other buyers were not ascertained immediately.

At 11:24 am; the stock was up 9% at Rs 985 on BSE, as compared to 0.08% decline in the S&P BSE Sensex. A combined 430,395 shares changed hands on the counter on BSE and NSE so far.

In past seven trading sessions, it rallied 28% from Rs 787 on June 1, against 0.17% decline in the benchmark index.