 "Anupam Rasayan rallies 13% in 2 days after Plutus Wealth buys stake")
Shares of Anupam Rasayan India gained 5 per cent to Rs 716 on the BSE in intra-day trade on Thursday, rallying 13 per cent in the past two trading days, after Plutus Wealth Management bought 1 million shares of the company via open market on Wednesday. The stock is trading at its highest level since its listing on March 24, 2021.
On May 5, Plutus Wealth Management purchased 1 million shares, representing 1 per cent stake of Anupam Rasayan India, for Rs 64.75 crore. The foreign institutional investor bought shares at Rs 647.3 apiece through a bulk deal on the BSE, the exchange data shows. The name of seller was not ascertained immediately.
With the past two days' rally, the stock is currently trading 29 per cent higher against its initial public offer (IPO) issue price of Rs 555 per share. Since April, the market price of Anupam Rasayan has surged 46 per cent, against 1.4 per cent decline in the S&P BSE Sensex.
On April 12, the company said it has re-paid certain identified borrowings aggregating to Rs 470.73 crore as on March 31, 2021 of its total outstanding debt from the net proceeds of its recently completed IPO. This will result in significant savings in the finance cost, it said.
On April 28, the company announced that it bagged an order worth Rs 1,100 crore from a multinational life sciences company. "The company has received and signed Letter of Intent (LoI) amounting to Rs 1,100 crore from one of the top 10 multinational life sciences company for supplying life sciences related speciality chemicals," Anupam Rasayan said in an exchange filing. The company will be providing multiple products to the multinational firm for the next five years, it added.
In a separate regulatory filing on Tuesday, May 4, the company said it has issued a LoI to install solar power by investing a sum of Rs 43 crore. The entire capital expenditure will be funded from the company’s recently concluded IPO proceeds. The proposed solar plant will help the company to rationalise energy costs through an estimated saving of around Rs 10 crore per annum for the next 25 years, the company said.
At 12:20 pm, the stock was up 3 per cent at Rs 706 on the BSE, as compared to 0.37 per cent rise in the S&P BSE Sensex. Around 930,000 equity shares have changed hands on the NSE and BSE, so far.
On May 5, Plutus Wealth Management purchased 1 million shares, representing 1 per cent stake of Anupam Rasayan India, for Rs 64.75 crore. The foreign institutional investor bought shares at Rs 647.3 apiece through a bulk deal on the BSE, the exchange data shows. The name of seller was not ascertained immediately.
With the past two days' rally, the stock is currently trading 29 per cent higher against its initial public offer (IPO) issue price of Rs 555 per share. Since April, the market price of Anupam Rasayan has surged 46 per cent, against 1.4 per cent decline in the S&P BSE Sensex.
On April 12, the company said it has re-paid certain identified borrowings aggregating to Rs 470.73 crore as on March 31, 2021 of its total outstanding debt from the net proceeds of its recently completed IPO. This will result in significant savings in the finance cost, it said.
On April 28, the company announced that it bagged an order worth Rs 1,100 crore from a multinational life sciences company. "The company has received and signed Letter of Intent (LoI) amounting to Rs 1,100 crore from one of the top 10 multinational life sciences company for supplying life sciences related speciality chemicals," Anupam Rasayan said in an exchange filing. The company will be providing multiple products to the multinational firm for the next five years, it added.
In a separate regulatory filing on Tuesday, May 4, the company said it has issued a LoI to install solar power by investing a sum of Rs 43 crore. The entire capital expenditure will be funded from the company’s recently concluded IPO proceeds. The proposed solar plant will help the company to rationalise energy costs through an estimated saving of around Rs 10 crore per annum for the next 25 years, the company said.
At 12:20 pm, the stock was up 3 per cent at Rs 706 on the BSE, as compared to 0.37 per cent rise in the S&P BSE Sensex. Around 930,000 equity shares have changed hands on the NSE and BSE, so far.
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