 "Nava Bharat Ventures gains on fund buying")
Nava Bharat Ventures has rallied 12% to Rs 127 on the National Stock Exchange (NSE) in intra-day trade after Reliance Mutual Fund (MF) bought more than 4% stake in the electric utilities company for Rs 44 crore through open market.
On Thursday, September 15, 2016, Reliance Mutual Fund (scheme: Reliance Capital Trustee) has purchased 3.97 million equity shares representing 4.45% of total equity of Nava Bharat Ventures via bulk deal.
HC Mauritius had sold 4 million shares, part of its holding through open market, data shows. The foreign institutional investor held 8.48 million shares or 9.5% stake as of June, 2016.
At 10:34 am, the stock was up 9% at Rs 123 on the NSE. A combined 1.22 million shares changed hands on the counter on the NSE and BSE so far.
On Thursday, September 15, 2016, Reliance Mutual Fund (scheme: Reliance Capital Trustee) has purchased 3.97 million equity shares representing 4.45% of total equity of Nava Bharat Ventures via bulk deal.
HC Mauritius had sold 4 million shares, part of its holding through open market, data shows. The foreign institutional investor held 8.48 million shares or 9.5% stake as of June, 2016.
At 10:34 am, the stock was up 9% at Rs 123 on the NSE. A combined 1.22 million shares changed hands on the counter on the NSE and BSE so far.