Geometric zooms 6%, promoter hikes stake

Geometric settled 6% higher at Rs 64. The counter witnessed volumes of  1.28 million equity shares as compared to the two-week daily average traded volumes of 95,000 shares on the BSE.
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(Updated at 1247hrs)

Geometric has zoomed 8% to Rs 66, after Godrej Investments Private Limited, one of the promoter has hiked stake via market purchase.

The stock opened at Rs 61 and touched high of Rs 66. The counter has seen huge volume with 1.17 million equity shares on the counter so far, when compared to average 95,000 shares traded in last two weeks on the BSE.

Godrej Investments Private Limited has purchased 21,260 equity shares at an average market price of Rs 61 per share, through market purchases between February 3 and February 8, according to announcements made by the company to stock exchange.

Godrej Investments has acquired 127,260 equity shares stake of the company in last one and half months. Total holding of Godrej Investments in the company has increased to 10.99% after these acquisition from 10.79% at the end of December 2009.