Alembic gains 31% so far in September on stake purchase by promoter

As of June 30, 2020, the total promoter holding in Alembic stood at 69.57 per cent, up 195 basis points (bps) from 67.62 per cent at the end of March quarter.

Shares of Alembic surged 9 per cent to hit a 52-week high of Rs 111.80 on the BSE on Thursday. The stock has gained over 30 per cent so far in September after the promoter group company Nirayu Limited bought an additional nearly 1 per cent stake in the company via open market. The stock has surged 31 per cent in the past eight trading days, as compared to a 0.17 per cent decline in the S&P BSE Sensex.

Between September 2, 2020, and September 4, Nirayu Limited, a promoter group company, purchased 1.56 million equity shares, representing 0.61 per