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This pharma stock hit 52-week high after Rakesh Jhunjhunwala raised stake in Q1

This pharma stock hit 52-week high after Rakesh Jhunjhunwala raised stake in Q1

The pharma share gained up to 4.44% to Rs 753.4 against previous close of Rs 721.50 on BSE

Jubilant LifeSciences stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Jubilant LifeSciences stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Share price of Jubilant LifeSciences hit a fresh 52-week high in trade today after ace investor Rakesh Jhunjhunwala raised his stake in  pharma firm for June quarter.  Jubilant LifeSciences share gained up to 4.44% to Rs 753.4 against previous close of Rs 721.50 on BSE. The stock has risen 8.56% in 3 days.

The stock opened with a gain of 3.81% today. Jubilant LifeSciences is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 65.89% in one year and gained 36.38% since the beginning of this year.

Total 0.59 lakh shares changed hands amounting to turnover of Rs 4.37 crore. Market cap of the firm rose to Rs 11,659 crore.

Federal Bank share price gains 4% after Rakesh Jhunhjunwala raises stake in Q1

Jhunjhunwala held 81,45,800 shares in Jubilant Life Sciences in Q1 against 70,25,000 shares held in the March quarter. In three separate accounts, Jhunjhunwala had 31,25,800 shares, 25,20,000 shares and 25,00,000 shares in Q1.

In March quarter, the ace investor held 43,72,222 and 26,52,778 shares of the company in two different accounts. In a separate development, the firm said it received drug regulator DCGI's  nod for a generic version of antiviral drug Remdesivir 100 mg/vial for restricted emergency use in India for treatment of severe COVID-19.

Apart from Jubilant Life Sciences, the big bull raised stake and bought shares in two other firms in Q1 of the current fiscal. The ace investor bought 1.05 per cent stake or 1.25 crore shares of Indian Hotels as of June 30. He was not among the key shareholders of the company earlier, data available with Ace Equity show.

In Rallis India, Jhujhunwala raised his stake by 0.38 per cent during June quarter. Jhunjhunwala purchased an additional 7.25 lakh equity shares to raise his stake to 10.31 per cent during the April-June period. He holds shares in the Tata Group company through his two accounts -- Rakesh Radheshyam Jhunjhunwala (7.64 per cent) and Rakesh Jhunjhunwala (2.67 per cent), shareholding pattern on BSE showed.

Jhunjhunwala held 1,93,05,820 shares (or 9.93 per cent stake) in the agrochemicals firm at the end of March 2020 against 1,90,30,820 shares at the end of December 2019.

In Federal Bank too, Jhunhjunwala bought an additional 20 lakh shares in the quarter ended June 2020. In June quarter, Jhunhjunwala's total holding in the bank stood at 3.18 percent in the quarter ended June 2020 against 3.08 percent in March 2020.In last quarter, the big bull held 6.23 crore shares against 6.03 crore shares held by him for quarter ended March.

Rakesh Jhunjhunwala earned Rs 13 lakh per day with this stock for 69 sessions