Karda Construction shares rally 5% after Elara increases stake

Stocks

Elara’s shareholding in Karda Construction has gone up to 2.62 percent of the total paid-up equity

Representative image

Representative image

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The share price of Karda Construction rallied 4.9 percent intraday on August 20 after Elara India Opportunities Fund raised its stake in the real-estate company. The rally comes after a 4.4 percent upside in the previous session.

Elara India Opportunities Fund acquired 6.5 lakh shares in the company at Rs 22.6 per share on the BSE, the bulk deals data showed on August 18. This was the second time in many days that Elara went shopping. On August 17, it acquired 9,61,340 shares at Rs 21.5 apiece.

Elara’s shareholding in Karda Construction has now gone up to 2.62 percent of the total paid-up equity of the company.

Karda Constructions stock was trading at Rs 23, rising 1.77 percent on the BSE, at 11.28 hours IST.