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Rekha Jhunjhunwala picks 2 per cent stake in smallcap pharma stock, Health News, ET HealthWorld

New Delhi: Investor Rekha Jhunjhunwalathe wife of ace late investor Rakesh Jhunjhunwalapicked a stake in the smallcap Sun Pharmaceuticals Advanced Research Company in the December quarter. As per the latest shareholding data filed by the company, the investor at the end of the December quarter held 62,92,134 equity shares or 1.94 per cent stake in the firm.

The latest corporate shareholdings filed suggest that Jhunjhunwala publicly holds 21 stocks with an estimated net worth of over Rs 20,097.7 crore.

In the December quarter of 2022, she also added stakes in counters such as Geojit Financial, Aptec, Canara Bank and NCC, Other stocks in her portfolio include singer india, Agro Tech Foods, Crystal, DB Realty, Jubilant Pharmova, Star Health and Jubilant Ingrevia,

Sun Pharma Advanced Research Company is an underperforming stock with a negative return of 35 percent in the last one year. The stock in the last six months has generated a negative return of 5 per cent.

At 10.50 am, the stock was trading 1.3 per cent higher at Rs 209.6. Meanwhile, the stock is up 22 per cent from its 52-week low. The stock’s 52-week low and high prices are Rs 172.45 and Rs 348.75 per share, respectively.

Technically, the stock is trading below 5 out of 8 SMAs (Simple Moving Average). The stock is trading below 30-day, 50-day, 100-day, 150-day and 200-day moving averages but is above 5-day, 10-day and 20-day moving averages.

After the decline in FII shareholding seen for the last few quarters in the counter, there has been an increase in FII stake to 3.54 per cent during the December quarter from 2.38 per cent in the September quarter.

Sun Pharma Advanced Research Company (SPARC) is a clinical-stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery. SPARC was formed in 2007 following its demerger from Sun Pharma, a global leader in specialty generics.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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