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    Delta Corp shares gain over 5% after Rakesh Jhunjhunwala picks up stake

    Synopsis

    Delta Corp shares had hit a fresh 52-week high of Rs 195.30 on October 26, 2016 and 52-week low of Rs 49.15 on February 29, 2016.

    ETMarkets.com
    NEW DELHI: Delta Corp shares gained as much as 5.77 per cent on Friday after Rakesh Jhunjhunwala’s Rare Enterprises bought 12.50 lakh shares of the company at Rs 106.54 apiece on Thursday.

    The scrip was trading 3.42 per cent higher at Rs 116.35 in the late afternoon trade. The stock opened the day at Rs 117.35 and touched a high and low of Rs 119 and Rs 114.65, respectively, before closing at Rs 115.70. The benchmark Nifty50 index closed at 8,074.10.

    For the quarter ended September 30, 2016, the company reported a consolidated net profit of Rs 32.25 crore, up 680 per cent from Rs 4.13 crore reported for the corresponding quarter a year ago. Net sales increased 43.81 per cent year-on-year to Rs 134.29 crore from Rs 93.38 crore reported for the corresponding quarter a year ago.

    In last one year, shares of the company have risen 34.50 per cent to Rs 112.50 till November 17, whereas BSE Sensex has gained 3.09 per cent in the same period.

    Delta Corp shares had hit a fresh 52-week high of Rs 195.30 on October 26, 2016 and 52-week low of Rs 49.15 on February 29, 2016.

    As on September 30, 2016, Rakesh Jhunjhunwala held 5 per cent stake in the company while his wife Rekha Jhunjhunwala held 4.76 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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