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Eastern Silk Industries is seeing sudden surge in FII interest. This month so far Morgan Stanley Dean Witter, Fidelity Funds (Mauritius) and Goldman Sachs have picked up significant amount of shares from the market. The market purchases also suggest that the acquisitions were being made at higher rates even though the transactions were carried out in bulk. For example, Morgan Stanley bought 78,000 shares on December 5 at an average price of Rs 287 per share. On December 14, Fidelity paid an average price of Rs 310 for 1.46 lakh shares.

According to brokerage sources, Fidelity further picked up around 90,000 shares and Goldman Sachs bought 1.29 lakh shares after December 14. The stock finished at Rs 304 on the BSE on Tuesday.

Jayanta Mallick

More Stories on : Stock Markets | Stocks | Ear to the ground | Silk

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