Century Textiles & Industries rose 2.43% to Rs 583 on BSE after an investment firm run by independent investor Radhakishan Damani bought 0.77% stake in the company on Thursday, 26 June 2014, through a bulk deal on NSE.
Meanwhile, the BSE Sensex rose 37.25 points, or 0.15%, to 25,099.92.
On BSE, 25.45 lakh shares were traded in the counter, compared with an average volume of 2.21 lakh shares in the past one quarter.
The stock hit a high of Rs 601.90 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 576.40 so far during the day. The stock hit a 52-week low of Rs 195.05 on 28 August 2013.
The stock had outperformed the market over the past one month till 26 June 2014, rising 16.86% compared with 1.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 61.39% as against Sensex's 13.43% rise.
The mid-cap company has an equity capital of Rs 93.04 crore. Face value per share is Rs 10.
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On Thursday, 26 June 2014, Derive Investments acquired 7.20 lakh equity shares of Century Textiles & Industries at an average price of Rs 569.28 each on NSE.
Derive Investments is run by independent investor Radhakishan Damani who is known in India for his stock picks.
Century Textiles & Industries reported net loss of Rs 4.90 crore in Q4 March 2014 as against net profit of Rs 17.95 crore in Q4 March 2013. Net sales rose 12.06% to Rs 1767.54 crore in Q4 March 2014 over Q4 March 2013.
Century Textiles and Industries is a trendsetter in cotton textiles and also has a remarkable presence in the yarn, denim, viscose filament rayon yarn, tyrecords, caustic soda, sulphuric acid, salt, cement, and pulp and paper industries.
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