Som Distilleries zooms over 30% in two days on Porinju Veliyath stake buy

The stock hit 52-week high of Rs 263, up 12% on NSE, extending its Wednesday's 20% rally, after Porinju Veliyath along with Equity Intelligence India bought 2.4% stake in the company

Som Distilleries & Breweries hit 52-week high of Rs 263, up 12% on the National Stock Exchange (NSE) in early morning trade, extending its Wednesday’s 20% rally, after Porinju Veliyath along with Equity Intelligence India bought more than 2% stake in the company through open market.

On Wednesday, January 10, 2018, Porinju Veliyath and Equity Intelligence India had collectively bought 650,000 shares representing 2.4% stake in Som Distilleries & Breweries through block deals on NSE, the exchange data shows.

Porinju Veliyath, Managing Director & Portfolio manager of Equity Intelligence India, had purchased 150,000 shares at a price of Rs 197.95 per share, while Equity Intelligence India bought 500,000 shares at price of Rs 197 per share. CLICK HERE FOR BULK DEALS DATA

At 09:29 AM; the stock was trading 8% higher at Rs 255 on NSE against 0.10% decline in the Nifty50 index. A combined 1.92 million shares changed hands on the counter on NSE and BSE so far.