Stove Kraft MD Rajendra Gandhi buys company's shares worth Rs 50 cr

Stove Kraft Ltd managing director Rajendra Gandhi on Wednesday bought company shares worth Rs 50 crore through an open market transaction.

According to the bulk deal data on BSE, he purchased 7.75 lakh shares at an average price of Rs 645 apiece.

Gandhi, a promoter of the company, held 53.4 per cent stake in the firm at the end of December 2021.

Separately, SCI Growth Investments II sold shares of the company at the same price.

It is a public shareholder of the company and held 9.91 per cent stake, as per shareholding data for December 2021 quarter.

Shares of Stove Kraft on BSE ended 4.27 per cent higher at Rs 674.6 on Wednesday.