GVK Power Zooms 40% In Two Days; Equity Intelligence India Buys 1% Stake

GVK Power Zooms 40% In Two Days; Equity Intelligence India Buys 1% Stake

GVK Power & Infrastructure hit a 52-week high of Rs 11.70, extending its Friday’s 20% surge on the National Stock Exchange (NSE), after Equity Intelligence India Private Limited bought an over 1% stake in the company through open market purchases. The stock zoomed 40% from Rs 8.35 in the last two trading sessions.

On July 21, 2017 Equity Intelligence India Private Limited [P M S] bought 18.8 million shares representing 1.19% stake in GVK Power & Infrastructure at Rs 9.61 per share on the NSE, the bulk deal data shows.

Porinju Veliyath, ace investor, is the Founder & CEO of Equity Intelligence India.

In the past four trading sessions, the stock surged 52% from Rs 7.70 on July 18, 2017.

At 10:02 am; it was up 14% to Rs 11.40, as compared to 0.35% rise in the Nifty 50 index. A combined 31.49 million shares changed hands on the counter on BSE and NSE so far.

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