Firstsource spikes up
By
Research Desk
about 11 years ago
First Source is up over 10.5% currently at Rs.12.85, with an intra day high at Rs.13.13. Volumes are huge at almost 22 lakh shares being traded compared to around 2.5 lakh shares over past two weeks. Market cap stands at Rs.845 crore.
The stock is undergoing the “Jhunjhunwala” syndrome. Rakesh Jhunjhunwala has bought 5.14% stake in the company from ICICI Bank and Aranda Investments Mauritius. They still have some residual stake remaining as at end of FY13, ICICI Bank held 6.88% stake and Aranda held 6.90%. The shares were purchased at an average price of Rs /share, amounting to Rs 25 crore.
The company had ended Q4FY13 with a 74% jump in net profit at Rs 40.2 crore on a 15% growth in revenues at Rs 712.5 crore.