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Nippon India Equity buys stake in Iris Clothings in NSE bulk deal
The bulk purchase was for 1.5 million shares at an average ₹55, and the stock hit a new record high of ₹56.25 in Tuesday trading.
LiveMint Markets says Nippon India Equity Opportunities AIF bought 15 lakh shares of Iris Clothings in an NSE bulk deal at an average price of ₹55 apiece, according to bulk deal data.
The report notes institutional activity in small-cap and mid-cap stocks is drawing attention because changes in shareholding can affect sentiment around the companies.
Iris Clothings has been on a sustained rally for more than a year, repeatedly setting new record highs, with Tuesday trading seeing the stock reach ₹56.25.
According to the article, Iris Clothings has gained around ₹55.77 apiece recently, and over the longer term the shares have risen from ₹2.45 to ₹55.77, a move it characterizes as a 2,176% gain over six years.