Jubilant Ingrevia rises 5% as Rakesh Jhunjhunwala raises stake in firm

Shares of Jubilant Ingrevia were locked in 5 per cent upper circuit limit at Rs 299 on the BSE, also its fresh 52-week high, in Tuesday's intra-day session after ace investor Rakesh Jhunjhunwala said that persons acting in his concert purchased an additional 3,04,009 equity shares in the company on March 19.

The persons acting in concert include Rekha Jhunjhunwala, Sushiladevi Gupta, Rare Enterprises and Rare Share & Stocks.

On February 15, Jhunjhunwala and persons acting his concert had been allotted 96,29,800 equity shares of Jubilant Ingrevia consequent to the composite scheme of arrangement of Jubilant Pharmova (formerly