Alpine Global Premier Properties Fund, a diversified, closed-end management investment company, today bought around 426,000 shares in Chennai-based Orchid Chemicals & Pharmaceuticals Ltd.
According to National Stock Exchange (NSE) bulk dealing data, the fund picked up 426,000 shares at Rs 304.79 a share. The total value of this investment is estimated to be around Rs 13 crore.
In the last eight months, the holding of FIIs in the company has increased to 12-13 per cent from five per cent, according to the company spokesperson. The company expects around 20-25 per cent growth in the next 2-3 years.
Orchid Chemicals and Pharmaceuticals earned a net profit of Rs 56.62 crore in the third quarter of current fiscal over a turnover of Rs 478.5 crore.