 "Rakesh Jhunjhunwala hikes stake in Prime Focus, stock zooms")
Ace investor Rakesh Jhunjhunwala on Tuesday increased his stake in visual entertainment services firm Prime Focus by acquiring additional shares worth Rs 11 crore through open market transactions.
Reacting to the news, Prime Focus shot up by around 7.1 percent to trade at Rs 46.10 in early trade today.
[caption id=“attachment_310753” align=“alignleft” width=“380” caption=“As of last month, Jhunjhunwala and his wife Rekha Jhunjhunwala held 5.93 per cent stake in the company.”]  [/caption]
According to bulk data available with the stock exchanges, Jhunjhunwala purchased 25.50 lakh shares (amounting to 1.71% stake) of Prime Focus held by Royal Bank of Scotland (RBS) for Rs 42.05 apiece, valuing the deal to Rs 10.72 crore.
As of last month, Jhunjhunwala and his wife Rekha Jhunjhunwala held 5.93 per cent stake in the company, while RBS’ holding in Prime Focus stood at 1.99 per cent.
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