Famed investor Rakesh Jhunjhunwala has increased his stake in Nagarjuna Construction. He bought 3.75 lakh shares in the period 17 to 21 July 2008, increasing his stake in the company to 6.88 per cent. Jhunjhunwala had acquired 6.25 lakh Nagarjuna shares in early July 2008. The company reported a 27 per cent topline growth at Rs 970 crore in the quarter to June 2008. EBITDA rose by 15.4 per cent to Rs 91.57 crore, but net profit grew only
2.92 per cent at Rs 37 crore, restricted by high interest costs that rose by 64 per cent in the quarter to Rs 23.8 crore. Interest costs amounted to Rs 14.5 crore in the previous corresporing quarter. This will be any important factor for the company in the coming months.
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