Singer India at 20% UC

Singer India is in the limelight - from its yesterday’s close of Rs.69.15, the stock opened today at Rs.75 and soon went on to hit the 20% UC of the day at Rs.82.95 where it now remains frozen.

This is probably the last investment decision of Rakesh Jhunjhunwala before he passed on.  His firm, RARE Enterprises bought 42.5 lakh shares for Rs 53.5 in the company through a bulk deal. Post this, RARE now holds around 8% stake in the company.

The seller was the company’s parent, Retail Holdings (India) B.V, selling 1.2 crore shares at Rs 53.54/share.