Reliance Infra's Largest Shareholders Sees Its Pharma-Held Small-Cap Stock on the Verge of a Breakout: Could It Mirror Reliance Infra's Move?
one small-cap pharma stock is on the verge of a multi-month breakout
Indian equity benchmark indices have pared the bulk of their gains and are trading with minuscule gains on Wednesday. Most sectoral indices are trading in the green, but the Nifty Pharma index has gained the most, hitting a fresh all-time high. The index is up by 2.36 per cent, and one Small-Cap pharma stock is on the verge of a multi-month breakout.
The stock in focus is Jagsonpal Pharmaceuticals Ltd, which has an established track record in the branded pharmaceutical formulations industry spanning over 60 years. Over the years, the company has successfully launched and grown multiple brands in women’s healthcare, orthopaedics, and other over-the-counter (OTC) segments.
Shares of Jagsonpal Pharmaceuticals surged over 15 per cent on Wednesday, putting the stock on the verge of a breakout. Notably, it recorded its highest single-day volume since August 26.
Here’s an interesting insight: Authum Investment and Infrastructure Limited holds a 1.46 per cent stake in Jagsonpal Pharmaceuticals. Authum, a registered NBFC engaged in share investments, securities, and financing activities, is the largest shareholders in Reliance Infrastructure in public shareholding. As per the shareholding pattern for the quarter ending September 2024, Authum holds a substantial 12.42 per cent stake in Reliance Infra.
We’ve seen how Reliance Infra shares have performed. Now, turning back to Jagsonpal Pharmaceuticals, the two catalysts—an imminent breakout and the presence of Authum Investment—make this stock one to keep on the radar.
Disclaimer: The article is for informational purposes only and not investment advice.