Porinju Veliyath latest bulk deal purchase

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Pee Vee
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Porinju Veliyath latest bulk deal purchase

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BULK DEALS
Shalimar Paints: Equity Intelligence buys 1 lk shrs at Rs.197.8 on 19th April 2017

Porinju's PMS Equity Intelligence has bought stock in latest bulk deal of Shalimar Paints. Can the stock be a multibagger?

Porinju Veliyath-led Equity Intelligence India bought 1,00,000 shares of Shalimar Paints on April 19 at Rs 197.84 a share on NSE. Reacting on the deal, shares of the company surged as much as 9.75 per cent in early trade on Thursday.

The scrip was trading 6.35 per cent up at Rs 225.20 around 9.33 am (IST). Shares of the company opened at Rs 225.95 and touched an intraday high and low of Rs 232.40 and Rs 224.20, respectively, in trade so far.

Benchmark NSE Nifty index was trading 12.20 points, or 0.13 per cent, up at 9115.70 at around the same time.

On a year-to-date basis, share price of Shalimar Paints has surged 44 per cent to Rs 211.50 till April 19. The scrip was trading at Rs 147.10 on January 2, 2017.

For the quarter ended December 31, 2016, the company reported a net loss of Rs 0.18 crore against net profit of Rs 2.05 crore in the corresponding quarter last year. Net sales of the company slipped 14.26 per cent year-on-year to Rs 88.49 during the quarter under review.

Of late, Porinju’s Equity Intelligence India bought 2,12,000 shares of Cimmco on March 23 at Rs 69.95 a share. Since then, share price of
Cimmco has surged 17.55 per cent to Rs 86.40 till April 19. During the period, the stock touched a high of Rs 106.70 on March 28

http://economictimes.indiatimes.com/mar ... 273385.cms
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