Man Ind rallies on stake hike by promoter

BSE 23 May 12 | 12:00 AM

96.90		-0.35 (-0.36%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 513269

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

96.90		-0.15 (-0.15%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: MANINDS

Performance
1 Week	:	Rs	100.90	(-3.96%)
1 Month	:	Rs	103.40	(-6.29%)
1 Year	:	Rs	128.10	(-24.36%)

Man Ind rallies on stake hike by promoter

SI Reporter / Mumbai 17 May 11 | 11:35 AM

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Man Industries has soared 11% at Rs 122 after Man Steel and Power, one of the promoters and group firm, acquired around 1.51% stake in the company through open market purchases via bulk deals on Monday.

Man Steel and Power has bought 834,391 shares at an average market price of Rs 110 a share from Reliance mutual fund, through multiple bulk deals, on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Reliance Mutual Fund has sold its entire stake in the company through these bulk deals.

The stock opened at Rs 109 and touched a high of Rs 124 on the NSE. The trading volumes on the counter almost doubled, with 1.2 million shares changing hands so far against an average around 615,000 shares traded daily in the past two weeks.