Valecha Engg zooms 15%, up 60% in 3 days

Valecha Engineering has zoomed 15% to Rs 170 after the Emerging Star Investments purchased 85,000 equity shares of the company through block deals at price of Rs 148 per share on the BSE.

The Royal Bank of Scotland had sold 103,626 shares to Emerging Star Investments and other undisclosed entities.

The stock has surged over 60% in last three trading days. The counter has seen huge volumes of 748,000 shares so far, as compared to an average 299,000 shares traded daily in last two weeks.

The company is planning to raise funds through issue of American depository receipts (ADR)/global depository receipts (GDR)/ foreign currency convertible bonds (FCCBs).