 "Sangam (India) zooms over 50% in four days on stake hike by promoter")
Shares of Sangam (India) are locked at the upper circuit of 20% at Rs 125, extending a 3-day rally on the BSE, after the promoter acquired nearly five percentage points stake in the company via open market transactions.
On May 19, Sangam Business Credit Limited, one of the promoters of the textiles company, purchased 1.80 million shares representing 4.55% stake at a price of Rs 75 per share, the BSE bulk deal data shows.
Meanwhile, the public shareholder, Withal Commercial Private Limited offloaded 1.80 million shares at price of Rs 75 per share, data shows.
The stock is currently trading at a record high and rallied 54% from Rs 81 on May 19. The benchmark S&P BSE Sensex gained 1% during the same period.
The trading volumes on the counter almost doubled, with a combined 1.76 million shares changing hands till 1515 hours. There are pending buy orders for 133,657 shares on the BSE and NSE.
On May 19, Sangam Business Credit Limited, one of the promoters of the textiles company, purchased 1.80 million shares representing 4.55% stake at a price of Rs 75 per share, the BSE bulk deal data shows.
Meanwhile, the public shareholder, Withal Commercial Private Limited offloaded 1.80 million shares at price of Rs 75 per share, data shows.
The stock is currently trading at a record high and rallied 54% from Rs 81 on May 19. The benchmark S&P BSE Sensex gained 1% during the same period.
The trading volumes on the counter almost doubled, with a combined 1.76 million shares changing hands till 1515 hours. There are pending buy orders for 133,657 shares on the BSE and NSE.