Share price of Jubilant Life Sciences touched a fresh 52-week high of Rs 696.4 in Tuesday's early session after ace investor Rakesh Jhunjhunwala raised his stake in the pharma firm. Jhunjhunwala has increased his stake in the company to 5.2%.
Jhunjhunwala's wife has also bought an additional 0.4% stake on June 15, as per the shareholding pattern.
Following the update, share price of Jubilant Life Sciences touched an intraday as well as its fresh 52-week high of Rs 696.4, rising 3.45% on BSE.
Jubilant Life share is trading higher than 5, 20, 50, 100 and 200-day moving averages. The stock has risen 19% in one week, 39% in one month and 23.4% year-to-date.
Later, the stock erased earlier gains and fell 4.03% to an intraday low of Rs 646 on BSE. Today the stock has fallen after 2 days of consecutive gain.
Market capitalisation of the pharma firm stood at Rs 10,550.78 crore as of today's session.
Earlier, Jhunjhunwala and his family were holding a 4.8% stake in the pharma major.