REC shares gain 4% as UBS Principal Capital Asia buys stake in company
MUMBAI: Shares of REC Ltd closed 4% higher on Wednesday after UBS Principal Capital Asia bought 1.11% stake in the company via bulk deal on Tuesday. The share had gained as much as 5% intraday.
The shares closed at ₹100.80. The benchmark index Sensex gained around 1% to close at 34247.05.
On Tuesday, UBS Principal Capital Asia purchased 22 million equity shares, or 1.11% equity, of REC at an average price of ₹102.25 per share via bulk deal on the BSE.
Eastspring Investments — developed and emerging Asia — sold 13.3 million equity shares, or 0.67% equity, in REC at an average price of ₹102.25 via bulk deal on BSE. It held 1.03% stake in REC as on 31 March.
