Angel Broking gains 17% after Kuwait Investment Authority buys 0.53% stake

The Kuwait Investment Authority is Kuwait's sovereign wealth fund, managing body, specializing in local and foreign investment.

Shares of Angel Broking rallied 17 per cent to Rs 379 on the National Stock Exchange (NSE) on Friday, thereby surging 20 per cent in the past two trading days after Kuwait Investment Authority acquired more than 400,000 equity shares of retail broking firm via open market transactions on Thursday.

On October 29, 2020, Kuwait Investment Authority FD F238 bought 430,000 equity shares, representing 0.53 per cent of its total paid-up equity, at Rs 321.73 per share on the NSE via bulk deal, the exchange data shows. The names of sellers were not ascertained immediately. The Kuwait Investment Authority is Kuwait's