Tata Coffee hits record high after Equity Intelligence buys stake

Tata Coffee hit a record high of Rs 175, up 17%, extending yesterday’s nearly 4% gain on the National Stock Exchange (NSE), after Equity Intelligence bought one million shares of Tata Group Company through open market.

On September 11, 2017, Equity Intelligence India Private Limited (PMS) acquired 1,000,000 equity shares representing 0.53% stake in Tata Coffee at price of Rs 150 per share on NSE, the bulk deal data shows.

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

F. Born A G has sold 1.5 million shares of the company through open market. As on June 30, 2017, F. Born A G held 7.5 million shares or 4.03% stake in Tata Coffee, the shareholding pattern data shows. The names of the other buyers not ascertained immediately.

At 12:57 PM, the stock was up 11% at Rs 166 on NSE, as compared to 0.48% rise in the benchmark Nifty50. A combined 6.75 million shares have changed hands on the counter on NSE and BSE so far.

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