Intellect Design

Intellect Design Arena has hit a new 52-week low today at Rs.107.75 and the stock remains in the red.

The stock is down as Rakesh Jhunjhunwala and his wife who held stake have reduced their stake in the company.

Rakesh Jhunjhunwala sold 10 lakh shares of his 12.5 lakh shares held yesterday and his wife, Rekha sold 32.30 lakh shares of her holding of 37.50 lakh shares.

Jhunjhunwala is a mover and shaker – if he buys a stock, that company’s stock price hits a new high and if he sells, it hits a new low; so this essentially in track with the market behavior.