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Here are the two domestic mutual funds that bought Ajanta Pharma shares in Thursday’s big deal | Jobs Vox

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Nippon India Mutual Fund and ICICI Prudential Mutual Fund bought 7.15 lakh and 10.8 lakh shares, respectively, at an average price of Rs 1,160.1 on Thursday.

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Ajanta Pharma Ltd, a company primarily engaged in the development, manufacturing and marketing of specialty pharmaceutical pharmaceutical finished dosages, on Thursday announced that two of its non-executive promoters have sold 4.38 per cent stake in the company in an open market transaction.

Ayush M. Agrawal, trustee of Ayush Agrawal Trust sold 38.79 lakh shares or 3.03 percent stake in Ajanta Pharma on Thursday. Ravi P Agrawal, trustee of Ravi Agrawal Trust, sold another 17.24 lakh shares, or 1.35 per cent stake in the company.

Both sellers sold the shares at an average price of Rs 1,160.1. On Thursday, the stock rose more than 6 percent to close at Rs 1,244.25 after the transactions.

In particular, the two promoters who sold the shares did not have any executive role in the company, so they suggested that they repay the loans they had borrowed in connection with the company’s share pledge to finance the private sale of these funds.

Nippon India Mutual Fund and ICICI Prudential Mutual Fund bought 7.15 lakh and 10.8 lakh shares of Ajanta Pharma at an average price of Rs 1,160.1 on Thursday.

The stock has fallen nearly 11 percent in the past year, compared with a 7 percent rise in the benchmark Nifty 50 index.

Ajanta Pharma, a Mumbai-based drugmaker, operates eight manufacturing facilities in India and Mauritius, including two plants approved by the United States Food and Drug Administration (USFDA). It currently employs more than 7,000 people worldwide and its products are sold in 30 countries, including the United States.

Ajanta Pharma stock was trading 0.57 percent higher at Rs 1,234.45.

(Edited by: Rukmani Krishna.)

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