Jhunjhunwala's Rare Enterprises buys 15 lakh shares of HT Media

The shares are worth Rs 11 crore

Rakesh Jhunjhunwala’s firm Rare Enterprises on Friday picked up 1.5 million shares of HT Media for Rs 11 crore through the open market route.

Rare Enterprises has bought the scrips on an average price of Rs 71 apiece, valuing the transaction at Rs 10.7 crore, by the data with the BSE.

However, the seller(s) could not be ascertained.

Shares of HT Media spurted eight per cent to settle at Rs 77.5 apiece on the BSE on Friday.

HT Media had reported a consolidated net profit of Rs 67 crore for the third quarter ended December 31.

Consolidated net sales during the quarter under review stood at Rs 573 crore.