Shares of Jubilant Life Sciences gained 3.5 percent intraday to hit a fresh 52-week high on June 16 after ace investor Rakesh Jhunjhunwala raised his stake in the company.
The stock has been on an upward path since the start of April, rising 197 percent to hit a 52-week high of Rs 696.40. It was trading at Rs 680.10, up Rs 6.95, or 1.03 percent on the BSE at 1221 hours IST.
"On June 15, 2020, my wife Rekha Jhunjhunwala has acquired 6,00,800 shares of Jubilant Life Sciences which takes our total shareholding to 82,54,800 shares of Jubilant, which is 5.1825 percent of the total issued and paid up capital of Jubilant Life of 15,92,81,139 shares," Rakesh Jhunjhunwala said in the BSE filing.
He further said upto June 14, he along with persons acting in his concert were holding 76,54,000 equity shares (representing 4.8053 percent of total paid up equity capital of company.
Rakesh Radheshyam Jhunjhunwala held 4.41 percent stake (or 70.25 lakh equity shares) in the pharma company as per March shareholding pattern available on exchanges.
It meant he also bought another 6.29 lakh equity shares after the March quarter.
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