Jhunjhunwala buys 30 lakh Man Infracon shares, stock up 20%

Ace investor Rakesh Jhunjhunwala on Thursday picked up 30 lakh shares of Man Infraconstruction for about Rs 11 crore (Rs 110 million) through the open market route.

According to the bulk deal data on the BSE, Jhunjhunwala bought 30,00,000 shares of Man Infraconstruction at a price of Rs 36 per share, valuing the transaction at Rs 10.8 crore.

The seller of the shares is Mansi Parag Shah, one of the promoters of Man Infraconstruction.

As per the December quarter shareholding pattern, Mansi P Shah holds 5,92,85,695 shares or 23.95 per cent stake in the company.

Shares of Man Infraconstruction zoomed 20 per cent to Rs 43.20 -- its highest trading permissible limit for the day at the BSE.

Man Infra provides construction services for ports, roads besides undertaking residential, industrial, commercial projects.