Geometric Limited has rallied 5% to Rs 123 after the company said that Indian equity investor Rakesh Jhunjhunwala acquired an additional 3.39% stake in the company via open market transactions.
“Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have acquired 2.13 million shares representing 3.39% stake in the company between September 25 and October 5, 2012 through open market,” Geometric said in a filing.
With these acquisitions Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala stake in the company increased to 19.14% from 15.75% earlier, it added.
The stock opened at Rs 120 and hit a high of Rs 124 on the BSE. As many as a combined 1.63 million shares have already changed hands on the counter till noon deals against an average 1.65 million shares that were traded daily in past two weeks.
