Laurus Labs Ltd's promoters have sold shares to release pledge on shares

Laurus Labs Ltd. (Laurus BSE: 540222, NSE: LAURUSLABS, ISIN: INE947Q01028), a leading research & development-driven and fully integrated pharmaceutical Company in India, announced that Dr.Satyanarayana Chava, Founder Promoter, CEO & ED, sold 52 lakh equity shares of the Company today in the stock market at an average price of INR.368.59, per share, aggregating to INR 191.67 Crores and Mrs. Nagarani Chava, one of the promoters of the company sold 18 Lakh equity shares of the Company at an average price of 366.91 per share at an aggregate value of INR 66.04 Crores, together 1.3% of the paid up capital of the Company.

Significant part of the above amount shall be utilized to release the pledge on their equity shares of the Company. It may be recalled that the above promoters have purchased around 3% of the then paid up capital of the Company in the year 2018.

Shares of Laurus Labs Ltd was last trading in BSE at Rs.368.35 as compared to the previous close of Rs. 364.6. The total number of shares traded during the day was 4001310 in over 12130 trades.

The stock hit an intraday high of Rs. 382.5 and intraday low of 363.2. The net turnover during the day was Rs. 1479179809.

Source : Equity Bulls

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