DII bought 8.61 lakh shares in Menon Bearings; share jumps 17%

DII bought 8.61 lakh shares in Menon Bearings; share jumps 17%

Shares of Menon Bearings Ltd surged 17% after Ambit Investment Advisors bought 8.61 lakh equity shares, equivalent to 1.5% stake, valued at 10.3 crore. Meanwhile, promoter Nitin Ram Menon sold 9.73 lakh shares at *120.01 per share, reducing his holding to 29.29% in the company. Menon Bearings manufactures automotive components.