Malabar India Fund has picked 2.12% stake in Adi Finechem, a specialized oleochemical manufacturing company, for Rs 71.77 million on Tuesday. Malabar purchased 2,65,805 shares at a price of Rs 270 a share at the Bombay Stock Exchange (BSE).

Recently the company has reported a sharp increase of 83.52% in net profit to Rs 52.18 million for quarter ended Jun. 30, 2014. Net sales for the quarter has grown 38.70% to Rs 429.90 million.

Shares of the company gained Rs 29.65, or 10.35%, to settle at Rs 316.05. The total volume of shares traded was 373,412 at the BSE (Tuesday).