Bollywood star Amitabh Bachchan bought 15 lakh shares at Rs 42.99 in Nitin Fire Protection Industries Ltd, according to disclosures made on National Stock Exchange (NSE). The company's shares surged by 9.9% in trade on Monday post the deal.
The company which manufactures fire extinguishers said on Friday that its net profit increased by 10.47% to Rs 20.77 crore during the June quarter against Rs 18.80 crore in the corresponding month last year, according to media reports.
According to NSE, Amitabh Bachchan bought 0.51% stakes of the total equity of Nitin Fire.
The company posted a consolidated net profit of Rs 20.77 crore, up by 10.53%, against Rs 18.79 crore in the corresponding quarter last year, according to media.
Source:http://www.dnaindia.com/money/report-nitin-fire-shares-pick-up-by-10-as-amitabh-bachchan-buys-051-stake-2115326
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