 "Lovable Lingerie bounces back from 52-week low on heavy volumes")
Lovable Lingerie has moved higher by 12% to Rs 255, bouncing back over 24% from its 52-week low of Rs 205 on the BSE touched in early morning trade, on back of heavy volumes.
The trading volumes on the counter surged multi-fold with a combined 1.83 million shares representing 10.89% of total equity of Lovable Lingerie have changed hands on the BSE and NSE.
On November 19, 2015, the private equity firm Nalanda Capital had part-exited it’s over two years old investment in Lovable Lingerie, a Mumbai-based women innerwear manufacturer.
Nalanda India Equity Fund had sold 342,043 equity shares or 2.04% stake in the lingerie maker though open market, Lovable Lingerie said in a regulatory filing. The names of buyers were not ascertained.
At 11:16 AM, the stock was up 8% at Rs 245 on the BSE as compared to 0.12% gain in the S&P BSE Sensex.
Thus far in 2015, it underperformed the market by falling 41% from Rs 388 against 6% fall in the benchmark index till yesterday.
The trading volumes on the counter surged multi-fold with a combined 1.83 million shares representing 10.89% of total equity of Lovable Lingerie have changed hands on the BSE and NSE.
On November 19, 2015, the private equity firm Nalanda Capital had part-exited it’s over two years old investment in Lovable Lingerie, a Mumbai-based women innerwear manufacturer.
Nalanda India Equity Fund had sold 342,043 equity shares or 2.04% stake in the lingerie maker though open market, Lovable Lingerie said in a regulatory filing. The names of buyers were not ascertained.
At 11:16 AM, the stock was up 8% at Rs 245 on the BSE as compared to 0.12% gain in the S&P BSE Sensex.
Thus far in 2015, it underperformed the market by falling 41% from Rs 388 against 6% fall in the benchmark index till yesterday.
