Ace investor Rakesh Jhunjhunwala has increased its stake in the pharmaceutical company Jubilant Pharmova. According to the latest stock pattern, as of March 31, 2022, the billionaire investor owns 57.5 lakh shares of the Jubilant Group firm, or a 3.61 percent stake in the company, compared to 50 lakh shares or 3.14 percent of the company’s shares. shares. by the investor, on December 31, 2021. This indicates that Jhunjhunwala has elected 7.5 lakh additional shares of the company in the last quarter of FY22.
Meanwhile, Jhunjhunwala’s wife Rekha Jhunjhunwala continued to hold her 3.15 percent stake in the company or 50.2 lakh shares in the quarter ended March. She also did that in the December 2021 quarter.
Holdings of the company’s promoters, however, remained unchanged at 50.68 percent at the end of the March quarter compared to the December quarter of last fiscal year.
Meanwhile, Jubilant Pharmova shares have gained after two days of fall. The stock hit an intraday high of Rs 482.35, up 4.55 percent from its previous close of Rs 461.35 on BSE. The pharma stock is trading above the five-day, 20-day and 50-day moving averages, but below the 100- and 200-day moving averages.
The stock lost 38.43 percent in one year and fell 19.14 percent in 2022. At 2:07 PM, the stock traded 2.83 percent higher at Rs 475.35 on BSE. A total of 9,716 shares of the company have changed hands, representing a turnover of Rs 46.15 lakh on BSE.
The market cap of the company rose to Rs 7,524.44 crore on BSE. The stock hit a 52-week high of Rs 925 on May 27, 2021 and a 52-week low of Rs 384.85 on March 31, 2022.
Jubilant Pharmova is expected to show a sharp decline in covid product sales in the coming quarterly results from a year ago, analysts at Nirmal Bang said. “CDMO business may also decline as much of the order book for Covid drugs has been fulfilled. The Radiopharma business is also expected to show a moderate performance as the business has yet to recover from Covid. The adverse impact of the limited import warning on its Roorkee formulation facility should result in a decline in generic sales,” they added. Generic and specialty pharmaceutical companies may see some growth sequentially.
Similarly, analysts at Motilal Oswal have forecast a nearly 22 percent year-over-year revenue decline due to a decline in all businesses. Analysts said they are monitoring prospects for Ruby-fill expansion plans, the turnaround in radiopharmaceuticals and prices of KSMs imported from China.
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