Rakesh Jhunjhunwala has increased its investment in Escorts & Rallis India.
ESCORTS – His stake in Escorts has gone up to 5.47 per cent from 4.98 per cent earlier. Last August, Jhunjhunwala had bought 6,21,789 shares of Escorts through open market transaction. The shares were purchased on an average price of Rs 88.23 valuing the transaction at Rs 5.48 crore.
Escorts reported a net profit of Rs 45.55 crore in the quarter ended December 2013 as compared to a net profit of Rs 28.13 crore in the corresponding quarter a year ago.
At 12:20 p.m., Escorts was at Rs 131.60, up 3.18 per cent, on the BSE. It touched a high of Rs 133.05 and a low of Rs 128.50 intraday. Total traded volume is at 7.16 lakh shares against two-week average of 4.97 lakh shares.
Rallis India – Jhunjhunwala has also raised his stake in Rallis India to 10.08 per cent from 9.13 per cent.
The ace investor has been bullish on agriculture sector as a theme and has been investing in agri related stocks like Rallis India and Escorts.
Rallis India was at Rs 169.50, up 2.79 per cent, on the BSE. It touched a high of Rs 174.10 and a low of Rs 165 intraday. Total traded volume is at 94,000 shares against two-week average of 21,000 shares.