46 Per Cent Returns From 52-Week Low: Pharma Stock Under Rs 75, Hit 10 Per Cent Upper Circuit; Here’s Why
The company has a market cap of over Rs 400 crore and the stock is up by 46 per cent from its 52-week low of Rs 50.42 per share.
On Thursday, shares of Balaxi Pharmaceuticals Ltd jumped 10 per cent upper circuit to Rs 73.70 per share from its previous closing of Rs 67 per share. The stock’s 52-week high is Rs 151.45 per share and its 52-week low is Rs 50.42 per share.
In a significant boost for India's pharmaceutical sector, President Donald Trump's administration excluded pharmaceuticals from the newly implemented reciprocal tariffs, a move that alleviates concerns over potential trade disruptions. This exemption, outlined in the broader tariff rule, recognizes pharmaceuticals as a crucial export for India, which sees 30 per cent of its pharma exports directed to the U.S. market. The decision spares Indian drug manufacturers from increased costs and maintains their competitive edge in a vital market.
About the Company
Balaxi Pharmaceuticals Ltd is an IPR-based pharmaceutical company that focuses on the production, stocking, selling, and supply of both branded and generic medicines. With a substantial portfolio of 610 pharmaceutical product registrations, Balaxi offers a diverse range of products, including tablets, injectables, liquids, and capsules, sourced from WHO-GMP-certified contract manufacturers located in India, China, and Portugal.
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Earlier, in bulk deals, Ebisu Global Opportunities Fund Limited bought 45,21,028 shares at Rs 53 per share. Unico Global Opportunities Fund Limited acquired 45,77,717 shares at Rs 53 per share, official data from the exchanges showed. On the other hand, MGC Fund Limited sold 45,21,028 shares while Elala India Opportunities Fund sold 45,77,717 shares at Rs 53 per share. B
As per NSE data, 65.99 percent stake lies with the promoter and promoter group and the rest, about 34.01 percent, is owned by public shareholders. The company has a market cap of over Rs 400 crore and the stock is up by 46 per cent from its 52-week low of Rs 50.42 per share. Investors should keep an eye on this pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.