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Allcargo Logistics shares gain 10% after series of block deals

LiveMint logoLiveMint 26-04-2017 Ravindra N. Sonavane

Mumbai: Shares of Allcargo Logistics Ltd surged nearly 10% after the company witnessed a series of block deals on Wednesday, in which around 36.40 million shares or 14.4% stake in the company changed hands, Bloomberg reported. Details of buyers and sellers were not available.

The stock touched a high of Rs197.80 a share, a level last seen on 4 November 2016, and gained as much as 9.9%, its biggest gain since 19 October 2016 in intraday trade. The stock gained for the sixth consecutive session and rose 16% in this period. So far this year, it has gained 5.8%.

According to ET Now, Blackstone Gpv Capital Partners (Mauritius) has sold its entire stake in the company. The PE firm invested in the company in early 2008.

As of March 2017, Blackstone Gpv Capital Partners Mauritius V-A Ltd holds 4.44% stake in the company, Blackstone Gpv Capital Partners (Mauritius) V-K Ltd holds 4.42%, Blackstone Gpv Capital Partners (Mauritius) V-L Ltd 3.8% and Blackstone Gpv Capital Partners (Mauritius) V-M Ltd 1.82%.

At 10.02am, Allcargo Logistics Ltd was trading at Rs195.80 on the BSE, up 8.8% from its previous close, while India’s benchmark Sensex index rose 0.44% to 30,076.14 points.

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