Business Standard

Ajanta Pharma hits new high on stake hikes by promoter

Gabs Investments Pvt Ltd, one of its promoters has acquired 115,431 shares via creeping acquisition route since April

SI Reporter  |  Mumbai 

Ajanta Pharma has rallied over 5% to Rs 712, its lifetime high, after the promoter acquired almost 1% stake in the company through open market purchases.

Gabs Investments Pvt Ltd, one of its promoters has acquired 115,431 shares representing 0.98% stake in the company via route since April, according to disclosure made by the company on Monday.

The promoters hiked their stake by 3.31% to 70.13% in the last financial year ended March 2012.

Meanwhile, the stock has outperforming the market by gaining 32%, compared with 3.6% fall in the benchmark index, after reporting 52% year-on-year growth in net profit at Rs 77 crore for the quarter ended March 2012.

The company’s board of directors have recommended a dividend @ Rs 7.50 per share for the financial year 2011-12 and also splitting of its equity share of Rs 10 each in to 2 equity shares of Rs 5 each.

A combined 95,687 shares have changed hands on the counter so far on both the exchanges.

 

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Ajanta Pharma hits new high on stake hikes by promoter

Gabs Investments Pvt Ltd, one of its promoters has acquired 115,431 shares via creeping acquisition route since April

Ajanta Pharma has rallied over 5% to Rs 712, its lifetime high, after the promoter acquired almost 1% stake in the company through open market purchases.

Ajanta Pharma has rallied over 5% to Rs 712, its lifetime high, after the promoter acquired almost 1% stake in the company through open market purchases.

Gabs Investments Pvt Ltd, one of its promoters has acquired 115,431 shares representing 0.98% stake in the company via route since April, according to disclosure made by the company on Monday.

The promoters hiked their stake by 3.31% to 70.13% in the last financial year ended March 2012.

Meanwhile, the stock has outperforming the market by gaining 32%, compared with 3.6% fall in the benchmark index, after reporting 52% year-on-year growth in net profit at Rs 77 crore for the quarter ended March 2012.

The company’s board of directors have recommended a dividend @ Rs 7.50 per share for the financial year 2011-12 and also splitting of its equity share of Rs 10 each in to 2 equity shares of Rs 5 each.

A combined 95,687 shares have changed hands on the counter so far on both the exchanges.

 

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