Shares of this multibagger stock under the ‘Pharmaceutical’ sector jumped approximately 12 percent in Tuesday’s trading session after the “Massachusetts Institute of Technology” (MIT) bought a fresh stake in the company on 15th April 2024 via a Bulk Deal. In the past month, the company’s stock gained nearly 25 percent for its holders.
With a market capitalization of Rs 7,905.44 crores, the stocks of Marksans Pharma Limited started their trading session on Tuesday at Rs 158.75 and currently trade at Rs 174.50, gaining a whopping 12 percent compared to the previous close of Rs 155.90 apiece.
Such sharp movements in the company’s share price took place after a well-known Institution bought a stake in the shares of the Pharmaceutical company.
As per the Bulk Deal data available with the National Stock Exchange (NSE), the “Massachusetts Institute of Technology” (MIT) bought a fresh stake by subscribing to 66 lakh equity shares of Marksans Pharma Limited at an average trading price of Rs 158 per share.
During the recent financial quarters, the company reported a stellar performance with its operating revenues jumping from Rs 531 crores during Q2FY24 to Rs 586 crores during Q3FY24. In addition, the company’s bottom-line number has stayed uniform at levels of Rs 84 crores.
According to the latest presentations, the company’s revenue mix portrays a majority contribution from the US markets, viz, around 42 percent of revenue, followed by the UK & European region contributing around 44 percent, and the other regions aiding in the balance percentage of revenue.
Keeping a purview of the last one year, the company’s stock has delivered multibagger returns of approximately 124 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.24 lakhs.
Founded in 1992, Marksans Pharma Limited is engaged in the process of research, manufacturing, and marketing of pharmaceutical formulations. It manufactures a wide range of drugs spanning anti-diabetic, gastroenterology, cardiovascular, oncology, etc as well as antibiotics & antiallergic medications.
The Pharma company has a wide presence, with a majority of revenue coming from the US market, followed by Europe, Australia, New Zealand, and the United Kingdom.
Written by Amit Madnani
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