Granules India hits record high on FIIs buying

Since June 30, the stock has outperformed the market by appreciating 82% as compared to 3% decline in Sensex.

Granules India hit a record high of Rs 155 on the BSE in intra-day trade after the pharmaceutical firm said that foreign institutional investors (FIIs) have increased their stake in the company by more than four percentage points in July-September quarter.

The FIIs bought an additional 4.4% stake in Granules India during the recently concluded quarter, taking their total holding in the company to 7.25%, highest in past eight years, at the end of September quarter. They held 2.85% stake in the company as on June 30, 2015, the shareholding pattern data shows.

The stock has outperformed the market by appreciating 82% from Rs 85 on June 30, 2015 as compared to 3% decline in the Sensex.

At 02:28 pm, the stock was up 1% at Rs 151 on the BSE. A combined three million shares have changed hands on the counter on the NSE and BSE.