Rakesh Jhunjhunwala buys 1% in Jaiprakash Associates

MUMBAI: Ace Investor Rakesh Jhunjhunwala has picked up 2.5 crore shares, or 1% stake, in Jaiprakash Associates in the June quarter, the company's shareholding data showed. It is not known whether Jhunjhunwala owned any stake prior to the quarter as individual shareholders' holding details show up on exchanges only if the total stake held is above 1%.

Jhunjhunwala's holding is worth Rs 57.5 crore. On Thursday, shares of Jaiprakash Associates ended flat at Rs 23.05 on BSE. The stock had hit a 52-week high of Rs 24 in Wednesday's session. From its 52-week low of Rs 6.71 in November 2016, the stock has jumped 241%. The stock is also one of the top performers in the Nifty 500 index this year.