{"id":79218,"date":"2022-12-22T18:05:00","date_gmt":"2022-12-22T12:35:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=79218"},"modified":"2022-12-22T18:03:09","modified_gmt":"2022-12-22T12:33:09","slug":"block-deal-pharma-stock-zooms-6-83-amid-reports-about-promoters-selling-a-stake","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/block-deal-pharma-stock-zooms-6-83-amid-reports-about-promoters-selling-a-stake\/","title":{"rendered":"Block Deal: Pharma stock zooms 6.83% amid reports about promoters selling a stake\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3207097096\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of<strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/AJANTPHARM\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\"> Ajanta Pharma<\/a><\/strong> surged 6.83% on Thursday to reach an intraday high of \u20b9 1,251.00 apiece on the National Stock Exchange (NSE). Its shares closed at \u20b9 1233.00 apiece, up 5.22%. Volumes jumped at the counter and 10,93,311 shares changed hands on Thursday.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3064940949\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>There were reports that promoter group entities Ayush Agarwal Trust and Ravi Agarwal Trust plan to offload a 4.6% stake in the company through a block deal. It was likely to be executed at a price of \u20b9 1,113 per share, which is at a 10% discount to its closing price on Thursday. The deal is likely to fetch \u20b9 650 crores for the promoters. Currently, its promoters hold a 70.48% stake in the company. However, 17.42% of this stake is pledged.&nbsp;<\/p><p>The company reported a 20% fall in its consolidated net profit at \u20b9 156.6 crores in the quarter that ended September 30, 2022, impacted by higher expenses and lower sales in the US generics market. It reported a consolidated net profit of \u20b9 195.94 crores in the corresponding period last fiscal.&nbsp;<\/p><p>Ajanta Pharma is a mid-cap company with a market capitalization of \u20b9 15,014 crores. It has a good return on equity of 22.77% and an ideal debt-to-equity ratio of 0.01. Its shares were trading at a price-to-equity ratio (P\/E) of 22.41, which is lower than the industry P\/E of 28.95, indicating that it is undervalued as compared to its peers.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1189158318\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><\/blockquote><div class=\"trade-after-content\" id=\"trade-1376157693\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Ajanta Pharma surged 6.83% on Thursday to reach an intraday high of \u20b9 1,251.00 apiece on the National Stock Exchange (NSE). Its shares closed at \u20b9 1233.00 apiece, up 5.22%. Volumes jumped at the counter and 10,93,311 shares changed hands on Thursday.\u00a0 There were reports that promoter group entities Ayush Agarwal Trust [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-79218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Block Deal: Pharma stock zooms 6.83% amid reports about promoters selling a stake\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=79218\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Block Deal: Pharma stock zooms 6.83% amid reports about promoters selling a stake\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of Ajanta Pharma surged 6.83% on Thursday to reach an intraday high of \u20b9 1,251.00 apiece on the National Stock Exchange (NSE). 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