Shares of VIP Industries surged as much as 10.4% today to ₹234.8 on BSE after famed investor Rakesh Jhunjhunwala hiked his stake in the company.
According to shareholding pattern disclosed to stock exchanges post market hours on Friday, Rakesh Jhunjhunwala held 5.31% stake in the company, as of the end of the March quarter.
At the end of the December quarter, Jhunjhunwala held 5.11% stake in VIP Industries VIP Industries manufactures an array of products in luggage and travel accessories under brands like VIP, Aristocrat, Alfa, Footloose and Skybags.
Despite today's rally, shares of VIP industries are down more than 50% since hitting its 52-week high of ₹519 in February as the coronavirus crisis has brought the travel industry to a