Vardhman Textiles’ Promoter Continues To Up Stake, Stock At Nine-Month High
Spools of thread sit on a textile machine. (Photographer: Taylor Weidman/Bloomberg)

Vardhman Textiles’ Promoter Continues To Up Stake, Stock At Nine-Month High

Shares of Vardhman Textiles Ltd. rose to the highest since March as promoter continued to raise its stake in the textile products maker.

Vardhman Holdings Ltd. acquired 5,891 shares of the company worth Rs 53 lakh on Friday through an open market transaction, according to data available on exchanges. The promoter had also acquired 11,620 shares worth Rs 1.02 crore on Thursday and another 9,000 equity shares worth Rs 78.65 lakh on Wednesday Dec. 2.

With this, Vardhman Holdings now holds a 26.88% stake in Vardhman Textiles.

The promoter has been raising its stake in the company since the beginning of November, and has since acquired more than 85,000 shares. Vardhman Holdings, at the start of November, held 26.75% stake in the company.

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