Food & Inns gains 20% after RK Damani’s Derive Investments buys stake

As per BSE data, on Thursday, April 11, 2019, Derive Investment had purchased 7.92 lakh shares representing 4.72% stake in Foods & Inns for Rs14.58cr through a block deal.

Apr 12, 2019 06:04 IST India Infoline News Service

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Shares of Food & Inns spurted 20% on Friday after RK Damani’s Derive Investments on Thursday bought nearly ~5% stake in the company from an open market.

As per BSE data, on Thursday, April 11, 2019, Derive Investments had purchased 7.92 lakh shares representing 4.72% stake in Foods & Inns for Rs14.58cr through a block deal. The firm bought shares at price of Rs184.06 apiece, the BSE data shows.

Data further showed that Kailash Jain & Sons, Goutam Jain & Sons (HUF), Deep Chand Raghu Nath and Daksha Jayeshbhai Thakker have collectively sold 3,95,000 shares of Foods & Inns.

Foods & Inns Ltd's share price is currently at Rs223.10, up by Rs37.15 or 19.98%, from its previous close of Rs185.95 on the BSE.
The scrip opened at Rs223.10 and has touched a high and low of Rs223.10 and Rs208.10, respectively. So far, 4,69,419 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs312.01cr.

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