Stocks

SOM Distilleries hits near 3-1/2 year high

Reuters Jan 11 | Updated on January 16, 2018 Published on January 11, 2018

Shares of SOM Distilleries and Breweries hit their highest level since mid-2014. The stock jumped as much as 12 per cent to Rs 264, its highest since May 28, 2014.

Equity Intelligence India founder Porinju Veliyath had bought 0.5 per cent stake, or 0.15 million shares, in the company on Wednesday. EQ India Fund, an alternate investment fund launched by Veliyath's portfolio management firm, had also bought 1.8 per cent stake, or 0.5 million shares.

More than 2.3 million shares changed hands, 6 times the 30-day moving average of 380,450. Up to Wednesday's close, the stock had risen 79.4 per cent in 12 months.

Published on January 11, 2018
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