Rakesh Jhunjhunwala Death: Even after his death, late stock market bull Rakesh Jhunjhunwala continues to rule the bourses. Rakesh Jhunjhunwala’s firm RARE Investment bought 42,50,000 shares of Singer India, which is more than 10 percent of the total paid up capital of the company.
As per the information available on the BSE website, Rakesh Jhunjhunwala’s investment firm RARE Investments has bought a stake in Singer India.
Rakesh Jhunjhunwala’s company Rare Investment, one of the country’s leading investors, has seen a strong rally since the news of buying shares in Singer India came to light. In two days, this stock has given returns of about 45 per cent to its investors.
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Singer India shares rose more than 18 percent
On Wednesday, August 17, 2022, Singer India’s stock opened with a gain of nearly 18 per cent at Rs 81.80 on the BSE, which was its intraday high. At 9.40 in the morning, the stock has strengthened by about 14 percent and remains around Rs 79. A day earlier on Tuesday, the stock had hit the upper circuit with a gain of 20 percent.
RARE Investments bought stake
According to the information available on the BSE website, Rakesh Jhunjhunwala’s investment firm RARE Investments has bought a stake in Singer India. Probably this is the reason why the stock saw buying on Tuesday.
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RARE Investments bought 42,50,000 shares of Singer India, which is more than 10 per cent of the total paid up capital of the company. RARE Investments had bought these shares of the company through a bulk deal.
Know at what price to buy Singer India shares
According to the information related to the bulk deal available on the BSE website, Rakesh Jhunjhunwala’s company has bought 42.50 lakh shares of Singer India at the rate of Rs 53.50. In this sense, his company has so far got more than 50 percent returns compared to Wednesday’s intraday high.
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