Published on 12/09/2017 1:08:32 PM | Source: Dion Global Solutions Ltd

Tata Coffee surges 16% as Porinju Veliyath buys stake

Posted in Stock On The Move| #Tata Coffee Ltd #Stock On The Move #Coffee

Shares of Tata Coffee rallied nearly 16 per cent, hitting fresh 52-week high, on the Bombay Stock Exchange after Porinju Veliyath-led Equity Intelligence India purchased 10 lakh shares in the company at Rs 150 apiece. Boosted by the development, shares of the company gained as much as 15.89 per cent and touched 52-week high to trade at Rs 175.00 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 10.46 per cent higher at Rs 165.75 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,049.22, up 167.06 points, or 0.52 per cent, at 12:50 hours.