RPP Infra gains 9% after falling 16% on Thursday

From its recent high on February 13, the stock tanked 38% against 10% rise in till Thursday

RPP Infra Projects rallied 9% to Rs 237 on BSE, after falling 16% on Thursday, on back of heavy volumes.

On Thursday, June 1, 2017, Arulsundaram Nithya sold 2.25 million equity shares representing 10% of total equity of RPP Infra Projects at Rs 226 per share on BSE through open market.

Sundaram Mutual Fund Infrastructure Advantage Fund had purchased 557,000 equity shares at Rs 225.50 per share, while Morgan Stanley Asia Singapore PTE bought 286,000 equity shares at Rs 225.44 per share, the BSE bulk deal data shows. CLICK HERE TO READ FULL DATA.

Yesterday, the stock had tanked 16% to Rs 218 on BSE on back of heavy volumes. From its recent high the stock plunged 38% from Rs 350 on February 13, 2017, as compared to 10% rise in the S&P BSE Sensex till Thursday.

RPP Infra Projects, engaged in construction & engineering business, had reported 4% year on year drop in its consolidated net profit at Rs 6.54 crore in March quarter against Rs 6.81 crore in the corresponding quarter of previous fiscal.

At 12:00 pm; the stock was up 8% at Rs 236 on BSE. A combined 2.9 million shares changed hands on the counter on BSE and NSE so far.