Transport Corporation of India jumped 7.54% to Rs 91.95 at 10:06 IST on BSE after an investment firm run by independent investor Radhakishan Damani bought over 3% stake in the company on Tuesday, 31 December 2013, through a bulk deal on NSE.
Meanwhile, the BSE Sensex was up 6.20 points, or 0.03%, to 21,176.88.
On BSE, so far 5.34 lakh shares were traded in the counter, compared with an average volume of 25,744 shares in the past one quarter.
The stock hit a high of Rs 98 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 88.40 so far during the day. The stock hit a 52-week low of Rs 44 on 3 September 2013.
The stock had outperformed the market over the past one month till 31 December 2013, rising 34.43% compared with the Sensex's 1.82% rise. The scrip had also outperformed the market in past one quarter, gaining 72.38% as against Sensex's 9.24% rise.
The small-cap company has an equity capital of Rs 14.59 crore. Face value per share is Rs 2.
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Derive Investments bought 25.48 lakh shares, or 3.49% of the total equity, in Transport Corporation of India (TCI) at Rs 78 per share on Tuesday, 31 December 2013. Shares of TCI spurted 13.77% to Rs 85.50 on Tuesday.
Derive Investments bought the shares from FIL Investments (Mauritius), which sold 28.51 lakh shares of TCI at Rs 78.01 each on NSE.
Derive Investments is run by independent investor Radhakishan Damani who is known in India for his stock picks.
Net profit of TCI declined 0.38% to Rs 13.09 crore on 6.20% rise in net sales to Rs 499.33 crore in Q2 September 2013 over Q2 September 2012.
TCI is a leading multimodal integrated supply chain solutions provider with a global presence.
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