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Rossari Biotech surges 18% in 2 days after Plutus Wealth acquires stake

The stock was trading at its highest level since its listing on July 23, 2020

Following the sharp run-up, returns are expected to plateau.
premium

Following the sharp run-up, returns are expected to plateau.

SI Reporter Mumbai
Shares of Rossari Biotech shot up 5 per cent to Rs 859 on the National Stock Exchange (NSE) on Thursday after Plutus Wealth Management LLP acquired 3 lakh shares of the company at Rs 773.82 per share.

The stock has gained 18 per cent in the last two trading days. It was trading at its highest level since its listing on July 23, 2020. The market price of Rossari Biotech has more-than-doubled against its issue price of Rs 425 per share.

On Wednesday, September 2, Plutus Wealth Management LLP bought 300,000 equity shares of specialty chemicals maker at