ReutersReuters

Burger King's India operator rises after HDFC Mutual Fund buys stake

** Shares of Burger King's India operator, Restaurant Brands Asia Ltd RBA, rise as much as 4.6% to 113.5 rupees

** Around 4.6 mln shares (around 0.92% stake) bought by HDFC Mutual Fund in a bulk deal on July 4 - exchange data

** Shares bought at 110.46 rupees per share, 1.8% more than last close price

** Stock on track to gain for 3rd straight day

** More than 13 mln shares traded as of 12:43 p.m. IST, 4.6x their 30-day avg

** Mean rating of 11 brokerages rating the stock is "buy"; their median PT is 125 rupees - LSEG data

** RESR gained 13.9% so far this week, adding to YTD gains of ~1.2%

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