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Ashish Kacholia, on Monday, purchased 20 lakh shares in Hikal, a Mumbai-based pharmaceutical firm.
The ace investor bought shares at Rs 166.50 apiece, valuing the purchase at Rs 33.3 crore, according to bulk deals data revealed by the National Stock Exchange (NSE) late on September 3, 2018.
According to information available on Hikal’s official website, it is said to provide active ingredients, intermediates and R&D services to global pharmaceuticals, animal health, biotech, crop protection and specialty chemicals companies.
Further, the portal states that the company has five manufacturing facilities in India — Maharashtra (Taloja and Mahad), Gujarat (Panoli) and Karnataka (Jigani) and a Research & Technology center at Maharashtra (Pune).
Last month, Kacholia reduced his stake in two consecutive session in ice cream maker Vadilal Industries.
In the first tranche, he offloaded 5 percent stake as he sold 3.62 lakh equity shares (3,06,045 shares on NSE and 56,260 shares on BSE) through open market transactions, at a price of Rs 612.18 per share and Rs 604.05 respectively.
Subsequently, he sold 1,42,527 equity shares (representing 1.98 percent of paid-up equity) of the company at Rs 548.35 per share.
The total stake, which he offloaded in two days, was worth Rs 30 crore.
The stock’s one-month gain stood at 30 percent, while in the past three days, it has risen 24 percent. At the close of market hours, Hikal was quoting at Rs 185.35, up Rs 23.95, or 14.84 percent, on the BSE. It touched a 52-week high of Rs 188.00.
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