Stocks

Geometric soars as Jhunjhunwala hikes stake

Our Bureau Mumbai | Updated on November 15, 2017 Published on January 13, 2012




The stock of Geometric Ltd surged on news of billionaire investor Mr Rakesh Jhunjhunwala raising his stake in the company.

December 2011 quarter data on shareholding patterns disclosed on the exchanges shows that Mr Jhunjhunwala has increased his stake in Geometric to 6.85 per cent from 6.29 per cent in the September 2011 quarter.

The number of shares he owns has increased to 42,90,000 from 39,40,000. His wife Ms Rekha Jhunjhunwala owns 8,50,000 shares and 1.36 per cent of the total shares of Geometric.

The stock closed 11.26 per cent up at Rs 61.25 on the BSE. It touched an intra-day high of Rs 64.65.

The big bull has also increased his stake in Titan Industries to 7.52 per cent from 7.15 per cent, shareholding data on the exchanges showed. However, Ms Rekha Jhunjhunwala's stake in the company reduced marginally to 2.48 per cent from 2.49 per cent.

Mr Jhunjhunwala has reduced his stake in Lupin to 1.88 per cent from 2.02 per cent. The number of shares he holds has reduced to 8,375,405 from 9,025,405.

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Published on January 13, 2012
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