Aarey Drugs shares crack 11% after LTS Investment Fund exits

Shares of Aarey Drugs and Pharmaceuticals fell more than 11 percent on June 11, a day after Mauritius-based LTS Investment Fund exited the company.

The stock closed at Rs 18.60 on the BSE, down 11.43 percent. After hitting March lows, the stock rose to Rs 23.56 on April 13 following a rally in the pharma sector but has since corrected sharply.

LTS Investment Fund offloaded its entire stake in the company in three consecutive trading days.

LTS on June 8 sold 2,75,000 lakh shares at Rs 19.52 per share then 1,75,000 shares at Rs 17.80 apiece the next day and in the last transaction on June 10, it offloaded the remaining 5,15,000 shares for Rs 19 each .