Panama Petrochem surges 25% in two days as Ramesh Damani buys 1% stake

Shares of Panama Petrochem hit a record high of Rs 322.30 after rallying 12 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market. This came on the back of heavy volumes.

In the past two trading days, the stock of the refineries/petro products company has surged 25 per cent, after investor Ramesh Damani bought over 1 per cent stake in the company during October-December quarter (Q3).

As on Q3, Ramesh Damani held 616,379 equity shares representing 1.26 per cent stake in Panama Petrochem, according to the shareholding pattern filed by the company on