V-Mart Retail hits a new high

V-Mart Retail hit a new high today at Rs.3288, up over 4.5%. Past four trading sessions, the stock has been scaling new highs and in 2018, it has risen almost 110%.

The reason for this stock’s spectacular rise is the rising stake of FIIs consistently. The company recently announced that FIIs have hiked their stake in the company by almost 1% in Q1FY19.

The company’s Q1FY19 shareholding pattern shows that FII holding has gone up from 31.27% at end of Q4FY18 to 32.34% - 1,83,633 additional shares were purchased in this Q1. At the end of Dec’16 FII’s held 25.84%.