Thangamayil Jewellery share prices up 16% on NSE

Jewellery manufacturing company Thangamayil Jewellery received interest in its stake from SBI Mutual Fund, which bought 357,291 equity shares or 2.6 percent of its total equity. The shares were bought for Rs 190 per share on National Stock Exchange, through open market purchase, as per the bulk deal data, reports say. The deal took place on December 5. Public shareholders N Ramchandran sold 450,000 shares of the 586,406 shares held, at price of Rs 190 per share, as per reports.

This development was followed by a spurt in share price of the jeweller on the NSE. The prices rose 16 percent to Rs.222 on the NSE. During the trade, the shares rose from the opening value of Rs 206 to peak at a 52-week high of Rs 226 on NSE, reports add.