IIFL Securities stock locked at upper circuit of 5% after Rakesh Jhunjhunwala buys 27.85 lakh shares

IIFL Securities share price rose in trade today after Big Bull Rakesh Jhunjhunwala bought 27.85 lakh shares of the financial services firm. Share price of IIFL Securities was stuck in upper circuit of 5% today when market opened. IIFL Securities share price opened at Rs 47.15 compared to previous close of Rs 44.95 on BSE.

There were only buyers, no sellers in the stock. Market capitalisation of the stock rose to Rs 1,505.19 crore on BSE today. Share price of IIFL Securities has more than doubled since November 25 last year. The stock has risen from Rs 22.8 on November 25 to Rs 47.15 today. IIFL Securities listed on the bourses on September 20 last year. The stock made its market debut at Rs 22 on NSE.

Value of this stock has doubled in a month! Rakesh Jhunjhunwala owns over 27 lakh shares

Bulk deal data on BSE separately showed that Satpal Khattar sold 30 lakh shares of IIFL Securities at Rs 42.74 per share. Satpal Khattar owned 62.16 lakh shares of IIFL Securities or 1.95% stake at the end of the September quarter. Stocks of other IIFL Group firms were also trading higher. While IIFL Wealth Management stock rose 6.35% to Rs 1,211, IIFL Finance was trading 2% higher at Rs 145.85 on BSE.

By Aseem Thapliyal