Radico Khaitan hits new high

Radico Khaitan has been buzzing for a couple of days now. For the past two days, it has been breaching the upper circuit filter and today morning, it hit a new 52-week high at Rs.171.50. It has since then come off the highs and is now at Rs.165.40.

The stock is in the limelight on news that Rakesh Jhunjhunwala's company, Rare Enterprises has acquired 6.85 lakh or 0.5% shares of the company through the open market for around Rs.11.50 crore yesterday. This works out to an average price of Rs.167.75/share.

This comes shortly on the back on Morgan Stanley, which on 22^nd Jan bought 1.5% stake or 20.47 lakh shares of Radico through open market transactions.