The shares of Thyrocare Technologies Limited opened their trading hour at Rs 516.90 and are currently available for Rs 528. The scrip witnessed an intra-day high of Rs 536, gaining around 5 percent compared to the previous closing levels of Rs 510.40.
In the last two days, the stock has gone up 10.50 percent ranging from Rs 477.20 to the current price levels. The company has a market capitalization of Rs 2,792 crores.
One of the probable reasons for the stock prices to surge is pertaining to ICICI Prudential Mutual Fund buying a stake in the company. According to the Bulk Deal data available with the BSE, the Mutual Fund, yesterday, bought 22,53,044 shares at a price of Rs 488 per share.
Moreover, Arisaig Asia Fund, a Foreign Institutional Investor (FII) holding a 6.11 percent stake as of the March 2023 quarter, has sold 26,72,707 shares at a price of Rs 488.18 per share.
In recent quarters, the company’s operating revenues and net profits have moved in opposing directions with the former increasing from Rs 128 crores during Q3FY22-23 to Rs 135 crores in Q4FY22-23 and the latter, keeping the timeframe the same, moving down from Rs 14 crores to Rs 12 crores.
As per the shareholding pattern data available for the March 2023 quarter, Promoters of the company hold a 71.14 percent stake, and FIIs hold a 9.99 percent stake in the company.
Thyrocare Technologies Limited is a research and diagnostics company with three broad segments that comprise imaging services, diagnostic testing, and others. The company earns a majority of its revenues from domestic operations within India.
Written by Amit Madnani
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