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Jubilant Pharmova rises after Rakesh Jhunjhunwala buys 25 lakh shares

Rakesh Jhunjhunwala bought 25 lakh shares, his wife, Rekha, acquired another 20 lakh shares in Jubilant Pharmova at Rs 594.35 apiece but his firm Rare Enterprises sold 40.25 lakh shares

August 26, 2021 / 02:42 PM IST
Advik Laboratories | The company has cleared its entire outstanding loan with Indian Overseas Bank (IOB) pursuant to one time settlement agreement entered into by company with IOB.

Advik Laboratories | The company has cleared its entire outstanding loan with Indian Overseas Bank (IOB) pursuant to one time settlement agreement entered into by company with IOB.

 
 
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Jubilant Pharmova share price gained 3 percent in the morning session on August 26, a day after ace investor Rakesh Jhunjhunwala picked up a stake in the company.

Rekha Rakesh Jhunjhunwala acquired 20 lakh equity shares and Rakesh Radheyshyam Jhunjhunwala bought 25 lakh shares at Rs 594.35 per equity share but his firm Rare Enterprises sold 40.25 lakh equity shares at the same price, as per the bulk deals data published on the NSE.

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Together Jhunjhunwala and his wife, Rekha, purchased 4.75 lakh equity shares in the company (0.29 percent of the total paid up equity) at the same price.

As per the shareholding pattern of June 2021, Rakesh Radheshyam Jhunjhunwala held a 6.29 percent stake in the company.

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The stock was trading at Rs 624.90, up Rs 13.05, or 2.13 percent at 09:49 hours. It has touched an intraday high of Rs 639.45 and an intraday low of Rs 620.
Moneycontrol News
first published: Aug 26, 2021 10:17 am

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