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Radico Khaitan spurts over 4% on Jhunjhunwala stake buying report

By Religare
|

Radico Khaitan spurts over 4% on Jhunjhunwala stake buying report
Shares of Radico Khaitan, an Indian company that manufactures industrial alcohol, rose over 4 per cent in early trade on Bombay Stock Exchange (BSE) on media report that renowned investor Rakesh Jhunjhunwala acquired stake in company.
 

As per ET report, investor Rakesh Jhunjhunwala's Rare Enterprises has acquired 6.85 lakh shares of liquor firm Radico Khaitan for about Rs 11.50 crore through open market route.

Riding high on media reports, shares of company gained as much as 4.12 per cent to trade at Rs 171.50 a piece on the BSE. In a similar fashion, shares of the company advanced 2.13 per cent to Rs 168.00 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 21,302.09, down 71.57 points or 0.33 per cent at 9:45 hours.

Dion Global Solutions Ltd.

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