Elder Pharma tanks on stake sale by Ratnakar Bank
Ratnakar Bank offloaded 140,000 shares of Elder Pharma for nearly Rs 5 crore.
Elder Pharmaceuticals is locked in lower circuit of 20% at Rs 249, also its 52-week low, after the private sector Ratnakar Bank on Friday offloaded over one lakh shares of domestic pharma player via open market transaction.
The stock has tanked 30% in past two trading sessions on the NSE. A combined 787,846 shares have changed hands on the counter till 1236 hours and there are pending sell orders for 177,.634 shares on NSE and BSE.
The Maharashtra based, Ratnakar Bank offloaded 140,000 shares of Elder Pharmaceuticals for nearly Rs 5 crore, the NSE bulk deal data shows.
The shares were sold at an average price of Rs 320.65 valuing the transaction to Rs 4.48 crore, it added. However, the buyer of shares could not be ascertained.
Meanwhile, the shareholding pattern filed by the company itself with the stock exchanges shows that promoters have pledged 80% cent of their holding at the end of March 2013 quarter.
The stock has tanked 30% in past two trading sessions on the NSE. A combined 787,846 shares have changed hands on the counter till 1236 hours and there are pending sell orders for 177,.634 shares on NSE and BSE.
The Maharashtra based, Ratnakar Bank offloaded 140,000 shares of Elder Pharmaceuticals for nearly Rs 5 crore, the NSE bulk deal data shows.
The shares were sold at an average price of Rs 320.65 valuing the transaction to Rs 4.48 crore, it added. However, the buyer of shares could not be ascertained.
Meanwhile, the shareholding pattern filed by the company itself with the stock exchanges shows that promoters have pledged 80% cent of their holding at the end of March 2013 quarter.