MUMBAI, Dec. 15 -- Shares of Burger King India Ltd on Tuesday extended gains and hit the 20% upper circuit amid higher volumes. The stock hit a fresh record high of Rs.166.05.

On Monday, the scrip had doubled after listing on the exchanges, closing at Rs.138.40 apiece, nearly 131% premium to its issue price of Rs.60 a share.

The stock is now up 176.75% from its issue price.

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Basant Maheshwari Wealth Advisers and Valiant Mauritius Partners Offshore bought 2.43 million and 2.5 million shares, respectively, of Burger King on Monday via open market transaction, according to NSE bulk deals data. Shares were bought at Rs.112.79 and 130.28 apiece, respe...