Jindal Steel and Power rises as promoter raises stake
Naveen Jindal, the promoter of the company has purchased about 500,000 shares worth of Rs 17 crore through open market transaction.
Jindal Steel and Power is trading higher by almost 3% at Rs 361 after the company said Naveen Jindal, the promoter of the company has purchased about 500,000 shares worth of Rs 17 crore through open market transaction.
“Naveen Jindal has purchased 200,226 shares on March 21, and 285,000 shares on March 22, at an average market price of Rs 348 per share on NSE,” Jindal Steel and Power said in regulatory filing.
Post acquisition, Naveen Jindal’s total shareholding in the company has increased to 0.46% from 0.41% earlier, the release said.
The stock opened at Rs 359 and touched high of Rs 363 on NSE. A combined around 800,000 shares have changed hands on the counter till noon deals.
“Naveen Jindal has purchased 200,226 shares on March 21, and 285,000 shares on March 22, at an average market price of Rs 348 per share on NSE,” Jindal Steel and Power said in regulatory filing.
Post acquisition, Naveen Jindal’s total shareholding in the company has increased to 0.46% from 0.41% earlier, the release said.
The stock opened at Rs 359 and touched high of Rs 363 on NSE. A combined around 800,000 shares have changed hands on the counter till noon deals.