There is some extraordinary activity in TCNS Clothing Company. The stock today rose 15% to Rs.507.70 and even yesterday, it was up some 11%. Volumes have gone up 6x.
The stock is reacting to the bulk deal which happened on the NSE yesterday - Nalanda India Equity Fund bought 4.32 million shares or 7.02% stake in TCNS Clothing at Rs 412.31/share.
And the data on the NSE shows that Fidelity Investment Trust Fidelity International Discovery Fund, Fidelity Investment Trust and Fidelity Emerging Asia Fund sold 2.19 million or 3.56% stake yesterday at Rs.402/share.