Lovable Lingerie has rallied nearly 11% to Rs 359, also its 52-week high on BSE, on back of heavy volumes on the bourses.
The stock opened at Rs 327 and has seen nearly ten-fold jump in trading volumes. At 1145 hours, a combined 1.68 million shares representing 10% of total equity capital of the company have changed hands, against an average less than 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
The stock opened at Rs 327 and has seen nearly ten-fold jump in trading volumes. At 1145 hours, a combined 1.68 million shares representing 10% of total equity capital of the company have changed hands, against an average less than 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
Last month, the foreign institutional investor (FII) had bought an additional nearly 2% stake of the company for Rs 10 crore from open market.
On January 15, 2014 Nalanda India Equity Fund Limited bought 178,882 shares of Lovable Lingerie at Rs 299.91 on the NSE and bought 137,654 shares at Rs 299.98 on the BSE.
Nalanda India Equity Fund Ltd, a fund of Nalanda Capital, a Singapore based private equity firm, held 6.91% or 1.16 million shares in Loveable Lingerie as on December 31, 2013.
Meanwhile, the total FIIs holding in the company have increased to 13.11% in December 2013 quarter, against 10.10% in the same quarter a year ago.
