Bhagiradha Chemicals up 62% in 2 days after Ratnabali Investment buys stake

Shares of have rallied 19% to Rs 333 per share on the in intra-day trade, surging 62% from their Wednesday’s low of Rs 206 after and bought nearly 15% stakes in company through open market.

“On Wednesday, June 27, 2018, and had acquired 1.15 million equity shares representing 14.76% stake of the company at price of Rs 206 per share through open market,” said in a filing.

Ratnabali Group and had stake in company Excel Crop Care, which they sold to the Japanese conglomerate, Sumitomo, in June 2016.

Meanwhile, Chetan Shantilal Shah had purchased 382,000 shares at price of Rs 206 per share, while Dipesh Kantisen Shroff bought 237,760 shares at Rs 212.46 per share of Bhagiradha Chemicals & Industries, the bulk deal data shows.

Nagarjuna Impex Private Limited, Royal Touch Multitrade Private Limited and other investors had sold a combined 2.15 million shares or 27.62% stake through bulk deals, the data shows. CLICK HERE FOR BULK DEALS DATA

At 12:32 pm; was trading 17% higher at Rs 326 on the BSE, as compared to 0.81% rise in the Sensex. Around 64,000 equity shares changed hands on the counter, the exchange data shows.

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