Visual Soft gains on institutional interest

DALAL STREET SPIKES

Visual Soft has been registering strong gains ever since Soft Bank picked up 14 per cent stake in the company. The stock in Thursday's trading was up nearly 15 per cent to close at Rs 180.20 after hitting an intra-day, 52-week high of Rs 183.90.

The counter gained on back of strong volumes of over 29 lakh shares on BSE on Thursday. Dealing room sources said, the counter has been witnessing institutional buying of late.

On Wednesday, Citigroup Global Markets (Mauritius) announced that it has acquired 2,82,473 shares aggregating 1.4 per cent of the total paid-up capital of VisualSoft Technologies by way of open market purchases on August 19. With this acquisition, Citigroup's holding in the company has reached 5.7 per cent of equity.