The share price of NCC Ltd extended rally on Friday after ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala, and group companies increased shareholding in the construction firm to 13.7 percent.
In a statement issued to exchanges, Jhunjhunwala said, “From November 4, 2014 till December 3, 2020, persons acting in my concert have acquired total 1,25,51,168 equity shares of NCC. This amounts to the acquisition of more than 2 percent of total paid-up equity of NCC.”
Of which, he said, 10 lakh equity shares of NCC have been acquired on December 3 this year.
“Our total shareholding is 8,36,04,432 equity shares of NCC, which is 13.7091 percent of the total paid-up equity of NCC of 60,98,46,588 equity shares,” Jhunjhunwala said.
Jhunjhunwala along with persons acting in his concert were holding 7,10,53,264 equity shares representing 12.78 percent of the total paid-up equity of NCC, till November 3, 2014.
At the end of the September quarter 2020, Rakesh Jhunjhunwala and his wife held a 12.14 percent stake in the construction company.
The stock price of NCC jumped over 7 percent in the early morning trade on Friday to an intraday high of Rs 51.45 apiece on the BSE, adding to 4 percent gains witnessed on Thursday.
NCC shares have rallied over 173 percent since April 2020.
At 11:38 am, the shares of NCC were trading 5.84 percent higher at Rs 50.75 on the BSE.
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