Warren Tea is trading higher by 6% at Rs 472 after Radhe Shyam Saraf, a promoter of Asian Hotels (East), acquired over 4% stake in the company for a total consideration of Rs 21.22 crore. The stock has appreciated 52% in the past three trading days from Rs 309 on July 29.
Radhe Shyam Saraf had purchased 477,956 equity shares, representing 4.5% stake of Warren Tea, at an average market price of Rs 443.98 per share via bulk deal, according to information available at the BSE website.
Binal Mercantile Private Limited and Bindal Commodities Private Limited had also bought a combined 250,000 shares of the tea manufacturer through bulk deals on Tuesday.
Foreign institutional investors, Standard Chartered Bank (Mauritius) and the Indiaman Fund Mauritius collectively sold 171,208 shares and Jaideep Halwasiya offloaded 473,727 shares of the company on the BSE.
The stock opened at Rs 473 and hit a lifetime high of Rs 489 on the BSE. Around 41,000 shares have changed hands on the counter till 1009 hours.
