HFCL zooms 32% in two days after Grantham Mayo Van picks up stake

Himachal Futuristic Communications Limited (HFCL) is locked in upper circuit for the second straight day, up 10% at Rs 28.15 on the National Stock Exchange (NSE), after Grantham Mayo Van Otterloo (GMO) - Emerging Markets Quality Fund bought more than 10 million shares of the company through open market.

On September 6, 2017 Grantham Mayo Van Otterloo - Emerging Markets Quality Fund bought 11.08 million equity shares representing 0.89% of total holding of HFCL at Rs 23.92 on the NSE, the bulk deal data shows. CLICK HERE FOR BULK DEALS DATA

The stock trading at its 52-week high level has zoomed 32% from Rs 21.35 on Tuesday, September 5. In past six trading sessions, it rallied 67% from Rs 16.90 on August 30.

Till 9:53 am, as many as 43.44 million shares changed hands and there were pending buy orders for 6.58 million shares on the NSE and BSE.

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