Shares of Himachal Futuristic hit 9-year high as an US-based investment firm has bought stake in the company.
Shares of Himachal Futuristic Communications Ltd, maker of fibre cables and other telecom equipment, rose as much as 9.96 per cent to Rs 28.15 rupees, their highest in more than nine years.
US-based investment manager GMO LLC had bought 11.1 million shares in a bulk deal on Wednesday, according to NSE data.
GMO has bought shares at Rs 23.92 per share at a premium of about 12 per cent compared with the stock's Tuesday closing price.
The stock gained for a second consecutive session; it had hit upper circuit of 20 per cent on Wednesday. Up to Wednesday's close, the stock had more than doubled this year.
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