Kirloskar Pneumatic soars 7%, hits record high as MFs acquire over 6% stake

On August 10, the promoters have sold 9.32 million shares or 14.45 per cent stake in the company for Rs 432 crore via bulk deals on the BSE.

Shares of Kirloksar Pneumatic (KPCL) hit a record high of Rs 520, up 7 per cent on the BSE in Thursday’s intra-day trade, surging 10 per cent in two days after domestic mutual funds bought more than 6 per cent stake in the company via open market.

On Wednesday, August 10, 2022, L&T Mutual Fund, Aditya Birla Sun Life Mutual Fund, Tata Mutual Fund, Franklin Templeton Mutual Fund and ICICI Prudential Life Insurance Company collectively purchased 3.97 million equity shares representing 6.15 per cent of total equity of KPCL through bulk deals on the BSE, the exchange data shows.