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

Related News

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.

 

Read more on:   
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

BGR Energy gains on winning an order worth Rs 250 crore

Shares of BGR Energy Systems have climbed over 4% on orders worth Rs 250 crore in the electrical sub-stations

Oil prices up on China industrial output data

Chinese industrial production rose 8.0% year-on-year in September

Metal and Power stocks gain on ordinance for coal issues

Shares of metal and power companies are trading higher by up to 2.5% after govt promulgates an ordinance on coal blocks.

Reforms, election outcome boost market

Benchmark indices post biggest single-day gains in a week; rupee rises on strong buying

RBI, FMC to discuss entry of foreign, domestic institutions in commodity futures

The Reserve Bank of India (RBI) and the Forward Markets Commission are meeting next week to consider the proposal

Back to Top