Firstsource Solutions stock jumps 8% after Rakesh Jhujhnwala increases stake

As per the latest shareholding pattern updated by the company to the exchanges, Jhunjhunwala now holds a 2.88% stake in the company as compared to 2.06% in the previous quarter.

Jul 10, 2020 11:07 IST India Infoline News Service

Firstsource Solutions
Shares of Firstsource Solutions jumped in today’s session in an otherwise weak market and it is up for the third straight day. The stock rallied after ace-investor Rakesh Jhujhnwala raised his stake in the company.

As per a BSE filing by Firstsource Solutions, Rakesh Jhunjhunwala bought an additional 57 lakh shares in the company during the quarter ended June 30, taking the total number of shares to 2 crore as against 1.43 crore help at the end of March 31, 2020.

As per the latest shareholding pattern updated by the company to the exchanges, Jhunjhunwala now holds a 2.88% stake in the company as compared to 2.06% in the previous quarter.

Mutual funds raised their stake to 5,40,26,995 shares in the June quarter of FY21 against 5,17,59,635 shares in the March quarter of FY20, the reports added.

Firstsource Solutions Ltd is currently trading at Rs43.75, up by Rs3.35 or 8.29% from its previous closing of Rs40.40 on the BSE.

The scrip opened at Rs41.80 and has touched a high and low of Rs44.50 and Rs41.60 respectively.

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