Aarti Pharmalabs shares surged by over 9% during Wednesday’s trading session following a significant acquisition by Sunil Singhania’s Abakkus Asset Manager. The investment firm bought a 1.18% stake in the company through a block deal.
Key Transaction Details:
- Shares Acquired: 10,69,972
- Stake Percentage: 1.18%
- Average Purchase Price: ₹575.04 per share
- Deal Value: ₹61.52 crore
The block deal data from the National Stock Exchange (NSE) reveals that the sellers were promoter group entities Orchid Family Trust and Tulip Family Trust.
- Orchid Family Trust: Sold 4,97,750 shares (0.54%)
- Tulip Family Trust: Sold 5,02,250 shares (0.55%)
Both entities offloaded shares at ₹575 apiece.
This transaction highlights growing investor confidence in Aarti Pharmalabs, driving a sharp rally in its stock price, which peaked at ₹691, reflecting strong market sentiment.