Since 31st Dec, IIFL Securities has been consistently hitting the UC. Today too, the moment it opened for trading, it was locked at the 5% at Rs.47.15.
The stock is up as Rakesh Jhunjhunwala bought 27.85 lakh shares in the company. This was purchased from the BSE open market at an average price of Rs.42.83/share.
This company was listed last Sept – it was one of the companies which was formed after demerger from its parent IIFL Holdings.
In the market, Rakesh Jhunjhunwala hasa midas touch- anything that he buys, everyone rushes to buy and vice versa.