Suryajyoti Spinning up 5%

MUMBAI: Shares of Suryajyoti Spinning Mills were up 5.58 per cent Monday after the promoters increased their stake through creeping acquisition.

Arun Kumar Agarwal picked up 1,70,000 shares from the open market for Rs 1.14 crore at an average price of Rs 67.24. The acquisition was made through group company Suryajyoti Infotech.

Last month Suryajyoti Infotech had acquired 20,000 shares for Rs 13.25 lakh at an average price of Rs 66.26 per share.

Since the commencement of 2007-08 (Apr-Mar) the promoter group has increased its stake by 3.03 per cent and holds 4,28,200 shares of Suryajyoti Spinning Mills.

At 11:23 am, shares of Suryajyoti Spinning Mills were at Rs 73.55 on the BSE.

Suryajyoti Spinning Mills rose 5.58% to Rs 73.55 after the promoters increased their stake through creeping acquisition.