News of Bollywood superstar Amitabh Bachchan’s investment in Nitin Fire Protection Industries triggered huge buying interest in the stock on Monday. Shares in the Mumbai-based fire-fighting equipment manufacturer rallied 10 per cent amid strong volumes.
Close to 12.23 lakh shares of Nitin Fire changed hands on the Bombay Stock Exchange recently in a single day as compared to a two-week average of 3.66 lakh shares.
Traders linked the buying to investment made by Mr Bachchan, who last week bought 15 lakh shares in Nitin Fire at Rs 42.99 a piece for a total consideration of Rs 6.45 crore, according to bulk data available on the National Stock Exchange.
