Jhunjhunwala had bought 0.5% stake via open market transactions on Monday.
In response to the information on the alternate, Jhunjhunwala bought 7,94,431 shares of Bilcare on Tuesday at Rs 46 apiece. That is at a big 10% premium to Monday’s closing worth of Rs 41.90. The inventory settled at Rs 46 on the BSE, up 10% from the earlier shut.
Sale of the stake fetched Rs 3.65 crore for the Jhunjhunwala household.
In a separate transaction, particular person investor Vara Lakshmi Guttikonda purchased 3.5% stake within the firm at Rs 45.88 apiece.
Jhunjhunwala’s title doesn’t seem within the September quarter shareholding on the BSE. However as per the June quarter shareholding information, Jhunjhunwalas are the single-largest public shareholders within the packaging options supplier.
Bilcare is a worldwide chief in offering packaging materials options for the pharmaceutical trade.
As of June-end, Rakesh and Rekha Jhunjhunwala collectively held 8.48% stake within the firm. Jhunjhunwalas have been buyers within the firm since 2015.
The inventory has been a serious laggard in 2022. Its worth has greater than halved final yr and it hit an over two-year low of Rs 31.10 in December.
For the quarter ended September, the corporate reported a 42% year-on-year (YoY) rise in income to Rs 151 crore. Nonetheless, it posted a internet lack of Rs 6.8 crore in opposition to a revenue of Rs 22 crore within the year-ago interval.
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