Geometric Ltd is trading higher by 2.6% at Rs 119 on reports that ace investor Rakesh Jhunjhunwala has purchased stake in the company.
Rakesh Jhunjhunwala purchased a 4.5% stake in Godrej-group firm Geometric Ltd from a foreign fund of Credit Suisse for about Rs 30 crore. Jhunjhunwala has purchased 2,826,250 shares of Geometric at price of Rs 106 on the Bombay Stock Exchange.
The stock opened at Rs 118 and touched the high of Rs 121 in the opening deals. As many as 3,96,000 shares have already changed hands on the counter comapred to its two-week average of 5,98,000 shares.
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