Ajanta Pharma has surged 19% to Rs 787, also its record high on NSE, on back of heavy volumes after the company said its promoter along with foreign institutional investors (FIIs) have raised their stake in the company during March quarter.
The stock opened at Rs 667 and hit a low of Rs 658 on NSE. As many as a combined 1.05 million shares have already changed hands on the counter till 1419 hours against average less than 50,000 shares that were traded daily in past two weeks.
Meanwhile, the stock has outperformed the market by surging 106% so far in current calendar year 2013 compared to 2.7% fall in benchmark Nifty and around 5% fall in BSE-500 index.
“Gabs Investments Private Limited, one of the promoters of the company has increased its stake to 73% from 72.7%, while FIIs raised their holdings to 1.53% from 1.34% during January-March 2013 quarter,” according to latest shareholding pattern data disclosed by the company.
The promoters held 70.13% holdings and overseas investors held 0.59% stake in the pharmaceutical firm at the end of March 2012 quarter.
Meanwhile, while announcing December 2012 results in January this year, Ajanta Pharma said that the company expects to launch Slidenafil tablets in the UK when it goes off patent in June 2013. The company has already received market authorisation in the UK for Slidenafil tablets of strength 50 mg and 100 mg.
The stock opened at Rs 667 and hit a low of Rs 658 on NSE. As many as a combined 1.05 million shares have already changed hands on the counter till 1419 hours against average less than 50,000 shares that were traded daily in past two weeks.
Meanwhile, the stock has outperformed the market by surging 106% so far in current calendar year 2013 compared to 2.7% fall in benchmark Nifty and around 5% fall in BSE-500 index.
“Gabs Investments Private Limited, one of the promoters of the company has increased its stake to 73% from 72.7%, while FIIs raised their holdings to 1.53% from 1.34% during January-March 2013 quarter,” according to latest shareholding pattern data disclosed by the company.
The promoters held 70.13% holdings and overseas investors held 0.59% stake in the pharmaceutical firm at the end of March 2012 quarter.
Meanwhile, while announcing December 2012 results in January this year, Ajanta Pharma said that the company expects to launch Slidenafil tablets in the UK when it goes off patent in June 2013. The company has already received market authorisation in the UK for Slidenafil tablets of strength 50 mg and 100 mg.
