Bilcare hits record low on heavy volumes, stock tanks 20%

Rakesh Jhunjhunwala and Rekha Jhunjhunwala are collectively held 8.51% stake in the company at the end of December 2012 quarter.

Bilcare has locked in lower circuit of 20% at Rs 112, also its record low, on back of heavy volumes on the Bombay Stock Exchange (BSE). 

As many as 223,000 shares have already changed hands on the counter till 1009 hours against an average sub 50,000 shares that were traded daily in past two weeks on BSE.

Investor and trader Rakesh Jhunjhunwala, who sold part of their stake A2Z Maintenance during the current month, hold almost 9% stake in the company at the end of December 2012 quarter.

Rakesh Jhunjhunwala (7.37%) and Rekha Rakesh Jhunjhunwala (1.14%) are collectively held 8.51% stake in the company engaged in offering customized packaging solutions to pharmaceuticals companies, the shareholding pattern data shows. The promoter held 32.61% stake in the company.

Meanwhile, the stock has underperformed the market by falling 49% so far in current calendar year 2013, compared to a marginal 0.48% fall in benchmark index Sensex.