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BUZZ-India's Himachal Futuristic hits 9-yr high; U.S. investment firm buys stake
September 7, 2017 / 5:35 AM / 17 days ago

BUZZ-India's Himachal Futuristic hits 9-yr high; U.S. investment firm buys stake

** Shares of Himachal Futuristic Communications Ltd , a maker of fibre cables and other telecom equipment, extend gains; rise as much as 9.96 pct to 28.15 rupees, their highest in more than nine years

** U.S.-based investment manager GMO LLC buys 11.1 mln shares in a bulk deal on Wednesday - NSE data bit.ly/2eI9tcW

** GMO buys shares at 23.92 rupees per share, at a premium of about 12 pct compared with the stock’s Tuesday closing price

** Stock gains for a second consecutive session; had hit upper circuit of 20 pct on Wednesday

** Up to Wednesday’s close, stock had more than doubled this year

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