Rakesh Jhunjhunwala’s RARE Enterprises on Thursday purchased 50 lakh shares of Indiabulls Real Estate through a an open market transaction on NSE, data available with the exchange showed. Following the move, the stock jumped 15.68 per cent to ₹63.80 on the BSE.
It gained 15.97 per cent to ₹63.90 on the NSE.
Rare Enterprises bought 50 lakh scrips of the company at an average price of ₹57.73 apiece, as per NSE’s bulk deal data on Thursday.
This took the total deal value to ₹28.86 crore.
This article was first published on livemint.com