Shares of this small-cap stock involved in the “consumer food” sector gained up to 4.50 percent post a Bulk Deal transaction pertaining to the company’s shares.
With a market capitalization of Rs 9,645 crores, the stocks of Zydus Wellness Limited closed at Rs 1,515.75 in Tuesday’s trading session. The company’s scrip witnessed an intra-day high of Rs 1,529.95 indicating a gain of approximately 4.50 percent as compared to the previous closing levels of Rs 1,464.45 apiece.
Such movements in the share prices were noted after a Bulk Deal took place at the bourse of the National Stock Exchange (NSE). According to the NSE Bulk Deal data, Zydus Family Trust, on the 7th of August 2023, bought 3,23,868 equity shares of the company at an average trade price of Rs 1,460 per equity share that equates to a 1.01 percent stake in the company.
Having a look at the annual numbers, the operating revenues went up from Rs 2,009 crores during FY21-22 to Rs 2,254 crores during FY22-23. Moreover, the after-tax profits grew marginally from Rs 308 crores to Rs 310 crores keeping the timeframe the same.
In addition to the above, another development that took place in the company is pertaining to the change in management. Dr. Govindarajan Raghavan, Vice President of the Research & Development (R&D) of Zydus Wellness Limited, tendered his resignation dated 7th August 2023. He will hold his office till the 6th of October 2023.
The company’s shareholding pattern, as per the June 2023 quarter, shows the Promoters holding a 67.1 percent stake, and the Foreign Institutional Investors (FIIs) holding a 3.23 percent stake in the company.
Zydus Wellness Limited is involved in the business of distributing health & wellness products. The company sells its products under the brand names Nutralite, Sugar-Free, Everyuth, and many more.
Written by Amit Madnani
