New Delhi, May 26 -- Shah Metacorp share price jumped over 4% on Tuesday after the company announced investment in the renewable energy sector by acquisition of a significant stake in Strike Eco. The penny stock rallied as much as 4.76% to Rs.5.50 apiece on the BSE.

However, Shah Metacorp shares succumbed to profit booking at higher levels and traded flat.

The Ahmedabad based manufacturer and exporter of stainless steel and mild steel long products, Shah Metacorp invested 26% stake in Strike Eco Grid Private Limited to explore a strategic association in the renewable energy and sustainable infrastructure space.

As part of the proposed transaction, Shah Metacorp plans to acquire an initial stake of up to 26% in Strike Eco, subject to du...