Datamatics Global soars 10% after Jhunjhunwala’s Insync Capital buys stake

NEW DELHI: Shares Datamatics Global Services surged 10 per cent in Wednesday’s trade after Insync Capital Partners bought shares in the company in a bulk deal on BSE.

Insync Capital Partners has Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala among its directors. The company bought 2.95 lakh shares of Datamatics Global Services at an average price of Rs 102 per share on Tuesday, BSE data showed.

Following the development, the stock jumped 10.25 per cent to hit a high of Rs 124.70.

Insync Capital Partners is a firm incorporated in 2009 by Amitabh Sonthalia and Utpal Sheth, CEO of Rare Enterprises, which is owned by Jhunjhunwala.

Some of the other investments of Insync Capital include Kirloskar Brothers, Adlabs Entertainment and Tourism Finance Corporation. In October, the company bought 4.25 lakh shares of Tourism Finance Corporation. In September, it bought 3.5 lakh shares of Adlabs Entertainment.