Shares of IIFL Securities have been locked in 4.91% upper circuit at Rs. 47 per share on the NSE after ace investor Rakesh Jhunjhunwala via a bulk deal purchased stake in the company stocks.
As per the data with the exchanges, Rare Enterprises of Rakesh Jhunjhunwala through a bulk deal on January 2 bought 27,84,879 equity shares of IIFL Securities at an average share price of Rs. 42.83 per share. This takes the deal value to Rs. 11.93 crores. With no sellers, there were buy orders pending for 641,143 equity shares.
At 10:15 am, the shares of IIFL Securities quoted at Rs. 47.15, up 4.89% on the BSE.