Lancor MD picks up more stake

Lancor Holdings’ MD, Mr R.V. Shekar, has informed the stock exchanges that he is acquiring up to 5% of the equity shares in the company at current market price. According to the information, Mr Shekar has acquired 1.23 lakh shares representing 0.61% stake for a total value of Rs 1.08 crore last week. This translates to a price of Rs 87.95 a share. Following the acquisition, his stake in Lancor stands at 27.87%. The Chennai-based real estate developers’ shares closed at Rs 89.25, about 5% higher than the previous close of Rs 85.05.