Ms Rakesh Jhunjhunwala and persons acting in concert have increased their stake in construction company NCC Ltd., taking their holding up to eight per cent of the company equity.

In a disclosure made to the stock exchanges, Ms Jhunjhunwala, Mr Rakesh Jhunjhunwala, Rare Investments and others informed that they acquired about 7,50,000 shares equivalent to 0.3 per cent in the Hyderabad-based infrastructure company.

This was by way of market purchases on Thursday on a day when the NCC scrip closed the trade a shade up at Rs 40.10 over the previous close of Rs 40.05. The scrip had a 52-week high of Rs 87 and low of Rs 28.

The Jhunjhunwalas and persons acting in concert earlier held about 1.97 crore shares equivalent to about 7.69 per cent shares of the company’s equity. With this acquisition made through open market purchases, they now have close to eight per cent stake in the company.

The company shares had earlier this month reached a low of Rs 28 and several market transactions were witnessed in the scrip.

Recently, Aditya Birla Finance had also hiked their holding in the company from 4.9 per cent to 5.1 per cent taking some of the pledged shares.

Meanwhile, AVSR Holdings Private Ltd acting on behalf of promoters has managed to have some of the company’s pledged shares released taking the holding to 4.49 per cent.

According to the BSE filings, promoters hold about 19.56 per cent stake, FIIs 44.38 per cent, DIIs 7.12 per cent and others 28.94 per cent.

vrishi@thehindu.co.in

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