Advanced Enzyme zooms over 25% in one week as promoter increases stakes

The stock moved higher by 10% to Rs 2,195, extending its 16% rally in past four trading days on NSE.

Advanced Enzyme Technologies moved higher by 10% to Rs 2,195, extending its 16% rally in past four trading days on the National Stock Exchange (NSE), after the promoter increased their stake in the company through open market purchase.

In past two trading sessions, Chandrakant Rathi Innovations and Projects Private Limited had bought 480,747 equity shares representing 2.2% stake of Advanced Enzyme Technologies via open market transactions on NSE.

On March 20, 2017, Chandrakant Rathi Innovations and Projects Private Limited bought 320,724 shares at price of Rs 1,957.76 and additional, 160,023 shares at Rs 1,988.16 on March 21, the NSE bulk deal data shows. CLICK HERE FOR DETAILS

The name of the sellers was not ascertained immediately.

As of December 31, 2016, Chandrakant Rathi Innovations and Projects Private Limited held 17.45 stake of the total promoters holding of 66.50% in Advanced Enzyme Technologies.

In past two weeks, the stock zoomed 36% as compared to 0.84% rise in the Nifty 50 index. Thus far in the calendar year 2017, it underperformed the market and fell 19% as compared to 8.6% rise in the benchmark index, till March 8, 2017.

At 03:00 pm; the stock was up 8.4% at Rs 2,167 against 0.98% decline in the Nifty 50 index. A combined 1.5 million shares changed hands on the counter on the NSE and BSE so far.