Share price of Jubilant Life Sciences closed higher in a weak market today after ace investor Rakesh Jhunjhunwala raised his stake in the pharma firm for the quarter ended March 2020. Jhunjhunwala increased his stake to 4.41% in Q4 compared to 3.45% shareholding for the quarter ended December 2019.
That amounted to buying 0.96% stake or 15.25 lakh shares in the company.
After the transaction, Jhunjhunwala held 70.25 lakh shares in Q4 against 55 lakh shares in December quarter. Share price of Jubilant Life Sciences hit upper circuit of 5% intra day at Rs 352 against the previous close of Rs 333.25 on BSE.
Jubilant Life Sciences share closed 4.56% or 15.30 points higher at Rs 350.55 on BSE. The stock ended higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages
The mid cap stock has lost 50.05% during the last one year and fallen 34.65% since the beginning of this year. However, the stock has gained 24% in one month. Market cap of the firm ended at Rs 5,425 crore.
Total 0.53 lakh shares changed hands amounting to turnover of Rs 1.84 crore. The stock hit its 52 week high of Rs 701.90 on April 22, 2019 and 52 week low of Rs 230 on March 25 this year.Apart from Jhunjhunwala, foreign portfolio investors (FPIs) also raised their in Q4 to 27.91 percent from 27.43 percent on a quarter on quarter basis. Lazard Emerging Markets Small Cap Equity Trust hiked its stake to 1.78 percent in Q4 against 1.3 percent in Q3 of last fiscal.