Intellect Design dips 12% on stake sale by Rakesh Jhunjhunwala

Moneycontrol BureauShare price of Intellect Design Arena touched 52-week low of Rs 107.75, declines 12.4 percent intraday Wednesday on the back of stake sale by Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala.Ace investor Rakesh Radheyshyam Jhunjhunwala has decreased its investments in Intellect Design Arena buy selling 10,00,000 shares of the company on February 14, 2017.As per BSE shareholding pattern, Rakesh Jhunjhunwala held 12,50,000 shares (1.24 percent) in the company as on December 2016.His wife Rekha Rakesh Jhunjhunwala also sold 32,30,000 shares of the company at Rs 120.44, out of 37,50,000 shares she held as on December 2016.However, Atyant Capital India Fund-1 bought 9,82,670 shares at Rs 120.26 and GHI LTP bought 7,33,730 shares at Rs 120.26.On Tuesday, Intellect Design Arena ended at Rs 120.35, down Rs 7, or 5.50 percent on the NSE.The share touched its 52-week high Rs 252 and 52-week low Rs 118.90 on 03 May, 2016 and 21 November, 2016, respectively.At 09:24 hrs Intellect Design Arena was quoting at Rs 112.45, down Rs 10.55, or 8.58 percent on the BSE.Posted by Rakesh Patil