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Nitin Fire gains nearly 10% as Amitabh Bachchan buys stake

By Religare

Shares of Nitin Fire Protection Industries Ltd rose nearly 10 per cent on Bombay Stock Exchange (BSE) after Bollywood star Amitabh Bachchan bought 15 lakh shares of Nitin Fire Protection for Rs 42.99 apiece, according to disclosures made under bulk deal on NSE. This constitutes 0.51 per cent of the total equity of the company which manufacturers fire extinguishers. It said that its net profit during the June quarter increased by 10.47 per cent to Rs 20.77 crore as against Rs 18.80 crore in the same three months last year.


Reacting to the news, shares of the company gained 9.93 per cent to Rs 47.05 a piece on BSE.

In a similar trend, shares of the company surged 9.91 per cent to Rs 47.15 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,648.77, up 136.51 points, or 0.50 per cent at 11.25 hours.

Story first published: Monday, August 17, 2015, 12:30 [IST]
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