Data shows that Rakesh Jhunjhunwala owns more than 25 lakh equity shares of the firm or a 2.26% stake in it.
Shares of pharmaceutical business Wockhardt surged 6% on Wednesday to trade at a higher of Rs 556.56 per share as investors identified ace investor Rakesh Jhunjhunwala to be amongst its shareholders. Latest shareholding information of the business, updated on Bombay stock exchange today, showed that the huge bull has invested in the firm. Wockhardt is amongst a handful of stocks that look the be fresh additions to Rakesh Jhunjhunwala’s portfolio in the prior quarter. After reaching intra-day highs the stock closed with merely 1.37% gains at Rs 535 apiece.
Although it can not be established if this investment into Wockhardt is Rakesh Jhunjhunwala’s initial obtain of the firm’s stocks, nevertheless, this is the 1st time his name seems on the shareholding pattern of the business. Data shows that Rakesh Jhunjhunwala owns more than 25 lakh equity shares of the firm or a 2.26% stake in it. In the Septemeber quarter shareholding pattern, the huge bull did not function. Firms are only essential to disclose the names of these shareholders who personal more than 1% stake in the firm.
Other important improvement in the most up-to-date shareholding pattern of the firm is the reduction of stake by Foreign Portfolio Investors (FPI) in the fiscal third quarter. FPIs held a 4.63% stake in Wockhardt at the finish of September 2020, the identical has come down marginally to 4.06% at the finish of the prior quarter. This comes at a time when FPIs have been pumping in record amounts of funds into domestic stocks.
Wockhardt is a worldwide pharmaceutical firm. Its Indian arm operates in the firms of pharma and biotechnology. Since the starting of November, the stock cost has surged 84%. Wockhardt has been offered the activity of making the Oxford-AstraZeneca vaccine at its subsidiary in Wales. A production line at the firm’s factory has been reserved for the goal for the next 18 months by the UK government. In the UK, Wockhardt is one particular of the biggest suppliers into the NHS for more than 20 years, has had a presence in Wrexham for more than two decades and employs more than 400 people today at its 612,000 square feet higher-tech manufacturing facility.