This pharma stock rises 7% after Jhunjhunwala buys 5 lakh shares in March quarter

Shares of Wochkhardt Ltd zoomed 7 per cent intraday today after ace investor Rakesh Jhunjhunwala bought an additional 5 lakh shares for the quarter ended March 2022. Jhunjhunwala held 30 lakh shares in the pharma firm in the last quarter against 25 lakh shares for the quarter ended December 2021.

Wochkhardt stock touched an intraday high of Rs 313, rising 6.99 per cent against the previous close of Rs 292.55 on BSE. The small cap share trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

The stock has lost 33.5 per cent in one year and fallen 26.1 per cent since the beginning of this year. Total 3.37 lakh shares of the firm changed hands amounting to a turnover of Rs 10.30 crore. The small cap share trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

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Market cap of the firm rose to Rs 4,383.75 crore on BSE. The stock hit a 52-week high of Rs 741.75 on May 26,2021 and a 52-week low of Rs 253.20 on March 31, 2022.

The pharma firm reported a net loss of Rs 6.78 crore for the quarter ended December 31, 2021 with profit falling 144.49 per cent against profit of Rs 15.24 crore in the corresponding quarter of the previous fiscal.

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However, the company's December-quarter sales rose 11.76 per cent to Rs 853.89 crore in Q3 of last fiscal against Rs 764.02 crore a year ago.

75 foreign portfolio investors (FPIs) held 2.90 per cent stake or 41.81 lakh shares at the end of March quarter against 76 FPIs holding 2.94 per cent stake or 32.58 lakh shares at the end of December 2021 quarter.

 Jhunjnhunwala's name appeared for the first time in the shareholding data for the first time in the quarter ended December 2020.

 In January 2021, data showed Rakesh Radheshyam Jhunjhunwala held 25,00,005 shares, or 2.26 percent stake, in Wockhardt at the end of December quarter.However, it cannot be ascertained if that was the first time when Jhunjhunwala bought stake in the company or he held any shares of Wockhardt earlier also as companies are not required to disclose names of shareholders if their individual holdings are below 1 percent.

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