Brigade Enterprises rallies after Vanguard Fund buys stake

Brigade Enterprises surged 4.59% to Rs 266.60 after Vanguard Funds Public Limited Company purchased 0.79% stake in the company via bulk deal on NSE yesterday

As per the bulk deal data on the NSE, Vanguard Funds Public Limited Company (Vanguard FTSE All World ETF) purchased 16,72,090 shares, or 0.79% stake, of Brigade Enterprises at an average price of Rs 257.33 per share.
Brigade Enterprises is Brigade group’s flagship company. Brigade group was established in 1986, with property development as its main focus.

On a consolidated basis, Brigade Enterprises reported a net loss of Rs 16.12 crore in Q3 FY21 as against net profit of Rs 49.33 crore in Q3 FY20. Net sales during the quarter increased by 16.7% year-on-year (YoY) to Rs 644.63 crore.

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