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The stock of MindTree sustained its rally for the third day in a row to hit a life-time high of Rs 1,191 on the BSE on Wednesday. The stock is currently trading 3 per cent higher at Rs 1,185.
The stock has been gaining after the company revealed that FID Fund Mauritius had purchased the company’s shares through open market.
Bulk deal
According to BSE bulk deal data on Friday, FID Fund Mauritius bought 2.95 lakh shares of MindTree at Rs 1,074.99 a share through a block deal.
On the same day, V.G. Siddhartha, Chairman of Coffee Day Group, had sold six lakh shares in MindTree for about Rs 65 crore.
A disclosure to stock exchanges said on September 20 (Friday), Siddhartha and his group company, Coffee Day Resorts, had sold four lakh and two lakh shares, respectively through the open market.
Siddhartha and his group companies held 21 per cent stake in MindTree at the end of June quarter. Promoters holding remained at 16.8 per cent, while 97 foreign institutional investors control 39.43 per cent.
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