India's Honasa Consumer at one-month high after promoter raises stake in firm

Shares of Honasa Consumer HONA.NS rise 5.7% to 292 rupees, highest in a month

Co's promoter Varun Alagh raises stake in co, buys 1.9 mln shares in a bulk deal at 270 rupees/shr

Promoters are large shareholders with management control

Bulk deal executed at a 0.58% premium to Friday's closing price

Stake buy worth about 500 million rupees ($5.56 million)- according to Reuters calculations

Shares sold by Fireside Ventures Investment Fund, which held a 1.93% stake in co as of Sept 30

Varun Alagh held a 31.88% stake in co as of Sept 30

HONA rated "buy" on avg by 12 analysts covering it; median PT at 320 rupees - data compiled by LSEG

YTD, HONA up 15%

($1 = 89.8820 Indian rupees)