FDC peaks on block deal

DALAL STREET SPIKES

Foreign institutional investors' (FII) buying lifted the FDC stock on the BSE on Monday.

In a block deal of over 70 lakh shares, a couple of FIIs bought the shares at an average price of Rs 53 per shares on the BSE.

The deal was struck marginally higher than yesterday's closing price of Rs 52.05.

According to information from the BSE website, three to four FIIs bought the shares which were sold by the promoters of the company.

The block deal also spurted the total volume on the BSE on Monday. The deal amounts to nearly 3.5 per cent of the company's total paid-up equity capital.

The stock, as a result, closed 12.58 per cent higher at Rs 58.60 as against its previous close of Rs 52.05.

Nearly 74.37 lakh shares were traded on the National Stock Exchange. The scrip has a face value of Re 1.