 "Shanthi Gears in top gear on SBI Fund buying")
Shanthi Gears has soared 12% to Rs 175, extending its previous day’s 20% rally on NSE, after SBI Fund Management bought nearly 2% stake in the company for Rs 19 crore through open market.
On January 19, 2015, SBI Fund Management had purchased 1.47 million shares representing 1.79% stake in auto parts and equipment maker via bulk deals.
SBI Funds Management Pvt Ltd A/C Magnum Balanced Fund bought 695,000 shares of Shanthi Gears at Rs 132 SBI Funds Management Pvt Ltd A/C SBI Small & Midcap Fund bought 771,136 shares at Rs 132 on the NSE, the bulk deal data shows.
Acacia Partners L P sold 600,000 shares of Shanthi Gears at Rs 132 on the NSE, data shows. The name of the other sellers not ascertained immediately.
The stock opened at Rs 159 and touched a new high of Rs 180 on NSE. The trading volumes on the counter surged over five-fold with a combined 2.12 million shares changing hands on NSE and BSE till 1014 hours.
On January 19, 2015, SBI Fund Management had purchased 1.47 million shares representing 1.79% stake in auto parts and equipment maker via bulk deals.
SBI Funds Management Pvt Ltd A/C Magnum Balanced Fund bought 695,000 shares of Shanthi Gears at Rs 132 SBI Funds Management Pvt Ltd A/C SBI Small & Midcap Fund bought 771,136 shares at Rs 132 on the NSE, the bulk deal data shows.
Acacia Partners L P sold 600,000 shares of Shanthi Gears at Rs 132 on the NSE, data shows. The name of the other sellers not ascertained immediately.
The stock opened at Rs 159 and touched a new high of Rs 180 on NSE. The trading volumes on the counter surged over five-fold with a combined 2.12 million shares changing hands on NSE and BSE till 1014 hours.