Nalanda India Equity Fund on Wednesday bought 4.32 million shares or 7.02 per cent stake in TCNS Clothing Co at Rs 412.31 apiece through a bulk deal on the National Stock Exchange.
In a separate deal, Fidelity Investment Trust sold 2.2 million shares or 3.55 per cent stake in the company at Rs 402 per share. Prior to the stake sale, Fidelity owned 2.83 per cent stake in the company, according to the December shareholding data.
Shares of TCNS Clothing ended 10.2 per cent higher at Rs 445 on the NSE.
Source: Economic Times