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Shares of Jain Irrigation gained 2 per cent to ₹106 on Tuesday after the latest shareholding pattern uploaded by the company revealed that the billionaire investor Shivanand Shankar Mankekar bought 1.86 per cent stake in the company in the June quarter.
Mankekar, who is known for picking the right stock at the right valuation, bought 82 lakh shares in the June quarter, according to the data filed on the BSE.
While domestic institutional investors have increased their holding in the company to 14.71 per cent from 13.43 per cent, retail investors reduced it to 17.08 per cent in the June quarter from 18.74 per cent. Foreign institutional investors hiked their holding marginally to 39.52 per cent from 39.14 per cent.
Jain Irrigation recently bagged two big integrated irrigation project orders from the Himachal Pradesh Government.
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