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Amitabh Bachchan Buys Stake In Nitin Fire; Scrip Surges 10%

By Religare

Bollywood super star Amitabh Bachchan has purchased 15 lakh shares (0.51 per cent of total equity shares) of Nitin Fire Protection for Rs 42.99 apiece, according to disclosures made under bulk deal on NSE.

Check the share price details and financials

Amitabh Bachchan Buys Stake In Nitin Fire; Scrip Surges 10%
Nitin Fire Protection Industries: Quotes, News
BSE 0.60BSE Quote0 (0.00%)
NSE 0.55NSE Quote0 (0.00%)

Earlier on Friday, the fire extinguisher manufacturer reported a growth of 10.47 per cent in its first quarter consolidated net profit at Rs 20.77 crore as compared to Rs 18.80 crore in Q1 FY15.

The total revenues of company increased by 18.56 per cent to Rs 337.90 crore for the quarter ended June 30, 2015, as compared to Rs 285.01 crore in the same period a year ago.

Boosted by BigB stake buying reports, shares of company jumped as much as 9.93 per cent to trade at Rs 47.05 apiece on Bombay Stock Exchange.

In a similar trend, stocks of company gained as much as 9.91 per cent to trade at Rs 47.15 apiece on National Stock Exchange.

Meanwhile, the benchmark BSE Sensex was trading at 27,773.34, down 295.86 points or 1.05 per cent, at 10:10 hours.

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