 "Escorts gains on stake hike by Rakesh Jhunjhunwala")
Shares of Escorts were trading higher by 4% at Rs 161 on the BSE in an otherwise weak market after Rakesh Jhunjhunwala hiked his stake in the company through the open market.
“Rakesh Jhunjhunwala has purchased 625,000 equity shares representing 0.51% of total equity of the company in the past three trading sessions through open market purchase on the BSE and NSE,” Escorts said in a statement.
The total stake of Rakesh Jhunjhunwala in Escorts increased to 9.79% from 9.28% earlier, the company added.
On August 6, Rakesh Jhunjhunwala bought 250,000 shares, on August 7, he purchased 125,000 shares and on August 10, he acquired 250,000 shares, the company said.
The stock opened at Rs 156 and touched a high of Rs 163 on the BSE so far. Till 10:52 AM, a combined 1.53 million shares changed hands on the counter on the BSE and NSE.
“Rakesh Jhunjhunwala has purchased 625,000 equity shares representing 0.51% of total equity of the company in the past three trading sessions through open market purchase on the BSE and NSE,” Escorts said in a statement.
The total stake of Rakesh Jhunjhunwala in Escorts increased to 9.79% from 9.28% earlier, the company added.
On August 6, Rakesh Jhunjhunwala bought 250,000 shares, on August 7, he purchased 125,000 shares and on August 10, he acquired 250,000 shares, the company said.
The stock opened at Rs 156 and touched a high of Rs 163 on the BSE so far. Till 10:52 AM, a combined 1.53 million shares changed hands on the counter on the BSE and NSE.