Markets

Kenneth Andrade’s firm buys 2% stake in Hathway Cable

Kenneth Andrade-owned Old Bridge Capital Management on Thursday bought 1.6 crore shares of Hathway Cable & Datacom, which represents 2% stake in the company, bulk deal data on the BSE showed.

Old Bridge bought the stake at Rs 39.5 per share. Andrade, who formerly worked with IDFC Mutual Fund, is known for his mid cap picks.

The bulk deal data separately showed Morgan Stanley Asia Singapore Pte sold 1.8 crore or 2.2% stake shares at Rs 39.5 per share. Morgan Stanley held 2.9% stake in Hathway Cable at the end of the March quarter, shareholding pattern data on the BSE showed.

Shares of Hathway Cable ended down 1.6% at Rs 39.65 on the BSE on Thursday. The company's shares have declined 11.7% in the last one year.

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