TeamLease Services hits record high after T Rows buys stake

The stock surged 16% to Rs 2,190 on the NSE in intra-day trade on Wednesday after T Rowe Price bought stake through open market on Tuesday.

TeamLease Services surged 16% to Rs 2,190 on the National Stock Exchange (NSE) in intra-day trade on Wednesday after T Rowe Price bought stake through open market.

On November 21, 2017, T Rowe Price International A/C – T Rowe Price International Small-cap Equity Trust and International Discovery Fund had purchased over 836,544 shares, representing 4.9% stake of TeamLease Services for about Rs 158 crore. The foreign portfolio investors purchased these shares at price of Rs 1,885 per share through NSE, the bulk deal data shows.

However, Gaja Capital India Fund and GPE India together sold over 810,000 shares of staffing firm TeamLease for about Rs 153 crore, data shows.

TeamLease Services is one of India's leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries with a vision of putting India to work.

At 12:32 PM; the stock was up 10% at Rs 2,077 on the NSE, as compared to 0.16% rise in the Nifty 50 index. A combined 78,883 shares changed hands on the counter on the NSE and BSE so far.