Butterfly Gandhimathi up 5% on stake buys by Ashish Kacholia

Butterfly Gandhimathi Appliances is locked in upper circuit of 5% at Rs 561 on the National Stock Exchange (NSE), after investor Ashish Kacholia bought more than one percentage point stake in the company through open market.

On Tuesday, December 19, 2017, Ashish Kacholia purchased 200,000 shares representing 1.12% of total equity of Butterfly Gandhimathi Appliances at price of Rs 525 per share on NSE, the bulk deal data shows.

Reliance Alternative Investment Fund – Private Equity Scheme-1, which held 2.45 million or 13.71% stake in the company as of September 2017, had sold 200,000 shares via bulk deal.