Why RailTel Corporation shares rallied 86% in 3 sessions businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Shares of RailTel Corporation of India (RailTel) rallied 17 per cent to Rs 142.45 on the National Stock Exchange (NSE) in intra-day trade on Monday after the institutional investors bought a stake in the company via open market on its debut day on Friday. The stock of the state-owned telecom infrastructure provider made a strong debut on the bourses as it got listed at a 28 per cent premium at Rs 120.60. With today’s rally, it has zoomed 52 per cent from its issue price of Rs 94. On Friday, February 26, Goldman Sachs India Fund and Nippon India Mutual Fund collectively bought 10.7 million equity shares of RailTel worth Rs 120 crore through block deals on the NSE, the exchange data shows.
Read more about RailTel Corp spurts after Goldman Sachs, Nippon MF acquire stake on Business Standard. RailTel Corporation of India surged 18.49% to Rs 143.85 after Goldman Sachs India Fund bought 37,09,685 shares (or 1.15% stake) of the company at an average price of Rs 113.57 per share on Friday (26 February 2021).
ICICI Prudential Business Cycle new fund offer review: Should you invest?
ICICI Prudential Business Cycle Fund will select a set of sectors first based on its reading of the economy and pick companies within those segments January 12, 2021 / 09:14 AM IST
As with many in the investment world, ICICI Prudential Mutual Fund believes that an economic recovery is around the corner. And as if to reiterate its confidence in the revival, it has rolled out a new ICICI Prudential Business Cycle Fund (IPBCF). The fund’s NFO closes today, January 12, though it is an open-ended fund. Should you invest in it?
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