Nitin Fire zooms almost 10% as Amitabh Bachchan buys stake

Mumbai: Shares of Nitin Fire Protection Industries surged almost 10 per cent today after Bollywood megastar Amitabh Bachchan bought 15 lakh shares of the company for about Rs 6.4 crore. The stock rallied 9.93 per cent to Rs 47.05 on BSE. 

?On NSE, shares of the company surged 9.9 per cent to Rs 47.15. Bachchan bought 15,00,000 shares (about 0.51 per cent stake) at Rs 42.99, translating the transaction at Rs 6.4 crore, according to bulk deal data on NSE on Friday. The actor has stakes in various listed companies. 

According to the company's June quarter shareholding pattern, promoters hold 71.89 per cent stake in the company. Nitin Fire Protection Industries on Friday said its net profit during the June quarter rose by 10.47 per cent to Rs 20.77 crore as against Rs 18.80 crore in the same three months of the last fiscal.

Nitin Fire is in fire protection business providing solutions, including procurement, designing, system integration, commissioning and installation of fire protection safety solutions.