eChannelling buys 13% of Blue Diamonds for Rs. 75 m

Friday, 10 June 2011 00:36 - - {{hitsCtrl.values.hits}}

eCHANNELLING Plc disclosed yesterday it had acquired a 13.24% stake in Blue Diamonds Jewellery Worldwide Plc.

The stake amounts to 13.67 million shares bought on Wednesday for an estimated Rs. 75 million.

On Wednesday 51.23 million shares of Blue Diamonds traded for Rs. 284.4 million. It was the second biggest gainer percentagewise up 23% to Rs. 5.90 whilst it peaked to Rs. 6.

eChannelling’s share price yesterday rose by over 16% to Rs. 5.60 on the news of Blue Diamond purchase of a 13% stake. Over 52 million shares of eChannelling traded.

Blue Diamond price peaked to a high of Rs. 7.20 before closing unchanged with 49 million shares traded.