 "Ajanta Pharma rallies on promoter stake buys")
Ajanta Pharma has rallied 11% to Rs 915, also its lifetime high on NSE, after the promoter were on a virtual shopping spree of company’s shares through creeping acquisition route.
The stock opened at Rs 819 and has seen a combined 648,667 shares changing hands till noon deals against an average sub 400,000 shares that were traded daily in past two weeks on NSE and BSE.
Gabs Investments Pvt Ltd, one of its promoters has acquired 18,169 shares worth of Rs 1.43 crore of the company through open market transaction in past three trading sessions, according to disclosure made by the company on Monday.
Since April, Gab Investments had purchased 52,043 shares of the company taking its total holding in the company to 9.13% from 8.91% at the end of March quarter.
According to SEBI guidelines on creeping acquisitions promoters can increase their stake in the company by up to 5% in a fiscal.
In last financial year 2012-13, the promoters has raised their holdings in the company by 2.87 percentage points to 73% from 70.13%, the shareholding pattern data shows.
The stock has rallied 42% so far in currently financial year 2013-14, compared to 182% appreciation reported in previous fiscal.
The stock opened at Rs 819 and has seen a combined 648,667 shares changing hands till noon deals against an average sub 400,000 shares that were traded daily in past two weeks on NSE and BSE.
Gabs Investments Pvt Ltd, one of its promoters has acquired 18,169 shares worth of Rs 1.43 crore of the company through open market transaction in past three trading sessions, according to disclosure made by the company on Monday.
Since April, Gab Investments had purchased 52,043 shares of the company taking its total holding in the company to 9.13% from 8.91% at the end of March quarter.
According to SEBI guidelines on creeping acquisitions promoters can increase their stake in the company by up to 5% in a fiscal.
In last financial year 2012-13, the promoters has raised their holdings in the company by 2.87 percentage points to 73% from 70.13%, the shareholding pattern data shows.
The stock has rallied 42% so far in currently financial year 2013-14, compared to 182% appreciation reported in previous fiscal.
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