A public shareholder of Eris Lifesciences Ltd. on Thursday offloaded a 1.46% stake for Rs 270 crore in the company through open market transactions.
One of the public shareholders of the pharma major, Rakesh Shah, sold 20 lakh shares on Thursday at Rs 1,350 apiece, according to NSE bulk deal data. As of June 2024, he held a 4.88% stake in the company.
Motilal Oswal Financial Services Ltd. bought 20.79 lakh shares, or 1.52%, at Rs 1,350.18 apiece.
In August, Emerald Investments Ltd., a public shareholder of the company, exited the company's shareholding by offloading a stake worth Rs 1,187.4 crore in a bulk deal through an open market transaction.
Eris Lifesciences' profit fell by 4.5% year-on-year to Rs 89 crore for the second quarter of fiscal 2025 as compared to a profit of Rs 94 crore for the same quarter last year.
The drug maker's revenue had risen to Rs 720 crore in the first quarter of the financial year 2024–25. This compares to Rs 467 crore in the April-June quarter for the financial year 2025, according to a company statement.
On Thursday, another bulk deal data indicated that BNP Paribas Financial Markets pared a stake worth Rs 755 crore in HDFC Bank Ltd. through a bulk deal on BSE.
BNP Paribas Financial Markets sold 43 lakh shares, or a 0.05% stake, in HDFC Bank at a price of Rs 1,726.2 apiece, according to the BSE data.
Shares of Eris Lifesciences closed 0.43% higher at Rs 1,330 apiece, as compared with a 2.12% fall in the benchmark NSE Nifty.
It has risen 46.44% in the last 12 months and 46.15% on a year-to-date basis. The relative strength index was at 50.08.
Out of the 12 analysts tracking, 11 have a "buy" rating on the stock, and one recommends a "hold," according to Bloomberg data. The average 12-month Bloomberg analyst consensus price target implies a potential upside of 0.7%.
Also Read: Moody's Affirms Baa3 Deposit Rating Of SBI
RECOMMENDED FOR YOU
Morgan Stanley Buys Stake Worth Rs 85.5 Crore In Titagarh Rail Systems Via Bulk Deal
Oct 16, 2024
UBS Group Buys IDFC Shares Worth Rs 88 Crore Via Bulk Deal
Oct 09, 2024
Plutus Wealth Management Buys Spicejet Stake Worth Rs 50 Crore Via Bulk Deal
Oct 01, 2024
Plutus Wealth Management Picks Up Rs 51-Crore Stake In SpiceJet Via Bulk Deal
Sep 30, 2024
POPULAR