VIP Industries has rallied 10% to Rs 53.85 after high net worth individual Rakesh Jhunjhunwala and persons acting in concert acquired additional 1.03 million shares of the company via open market.
Rakesh Jhunjhunwala along with Clue Leasing and Finance Private Limited and Hillcraft Investments Company Private Limited have collectively purchased 1.03 million shares representing 0.73% stake in the company through open market purchases, VIP Ind said in a filing.
On August 21, Rakesh Jhunjhunwala has purchased 503,000 shares, while on August 22 he bought another 468,200 shares, while Clue Leasing and Finance Private Limited and Hillcraft Investments Company Private Limited acquired 26,000 and 31,000 shares respectively.
The latest acquisition takes Rakesh Jhunjhunwala's total shareholding to 11.5 million shares or 8.14% paid up capital of the company.
As on June 30, Rakesh Jhunjhunwala held 9.18 million or 6.49% stake in VIP Ind, the BSE data shows.
The stock opened at Rs 50 and hit a high of Rs 54.90 on BSE. A combined 2.27 million shares already changed hands on the counter so far against an average around 500,000 shares that were traded daily in past two weeks on BSE and NSE.
Rakesh Jhunjhunwala along with Clue Leasing and Finance Private Limited and Hillcraft Investments Company Private Limited have collectively purchased 1.03 million shares representing 0.73% stake in the company through open market purchases, VIP Ind said in a filing.
On August 21, Rakesh Jhunjhunwala has purchased 503,000 shares, while on August 22 he bought another 468,200 shares, while Clue Leasing and Finance Private Limited and Hillcraft Investments Company Private Limited acquired 26,000 and 31,000 shares respectively.
The latest acquisition takes Rakesh Jhunjhunwala's total shareholding to 11.5 million shares or 8.14% paid up capital of the company.
As on June 30, Rakesh Jhunjhunwala held 9.18 million or 6.49% stake in VIP Ind, the BSE data shows.
The stock opened at Rs 50 and hit a high of Rs 54.90 on BSE. A combined 2.27 million shares already changed hands on the counter so far against an average around 500,000 shares that were traded daily in past two weeks on BSE and NSE.
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