The Big Bull of Dalal Street, Rakesh Jhunjhunwala, has been on a buying spree, of late. In October, Insync Capital Partners LLP, an entity owned by Rakesh Jhunjhunwala, had bought 4.25 lakh shares of Tourism Finance Corporation and, in September, it had purchased 3.5 lakh shares of Adlabs Entertainment. As 2016 drew to a close, Jhunjhunwala made his last big purchase of the year. Insync purchased 295,000 shares of Datamatics Global Services at Rs.102.08 a share, cumulatively worth Rs.3 crore. Amrita Vidur Bhogilal, one of the promoters of Datamatics, who held 11.8 lakh equity shares, sold about 5 lakh shares in the open market, of which Insync bought 2.95 lakh shares.
As expected the news set the counter on fire, with the stock vaulting 39%