The counter of Infomedia India saw sporadic buying activity coupled with huge volumes in the past few days. From Rs 140.80 on 5 April 2007, the stock surged to Rs 198.45 by 19 April 2007. The sharp spurt in the stock came after a renowned investor, Rakesh Jhunjhunwala, mopped up 4.50 lakh shares of the company at Rs 163 per share. Rakesh Jhunjhunwala along with other persons acting in concert already hold 4.23% stake in the company.
Shares from the T2T group are to be delivered, and as a result trading is not possible in such counters. As a result, the daily traded volumes on such scrips decline.
Infomedia India, a special interest publications company, provides commercial information in the form of business directories, popularly called Infomedia Yellow Pages. Infomedia India also publishes at least 10 Indian and international B2B titles.