Nectar Lifesciences has rallied 16% to Rs 33.75 on back of heavy volumes on reports that the promoters of the pharmaceutical company are planning to sell their entire stake in the company. However, the management has denied the reports.
“Sanjiv Goyal and family, are planning to sell their 44.35% stake in Nectar Lifesciences,” the Economic Times report suggests.
The company a manufacturer of active pharmaceutical ingredient (API) has appointed IDFC Investment Bank to look for buyers, added the report.
The stock opened at Rs 32.60 and hit a 52-week high of Rs 35 on BSE. The trading volumes on the counter more than doubled with a combined 2.34 million shares that changed hands till 0940 hours on BSE and NSE.
“Sanjiv Goyal and family, are planning to sell their 44.35% stake in Nectar Lifesciences,” the Economic Times report suggests.
The company a manufacturer of active pharmaceutical ingredient (API) has appointed IDFC Investment Bank to look for buyers, added the report.
The stock opened at Rs 32.60 and hit a 52-week high of Rs 35 on BSE. The trading volumes on the counter more than doubled with a combined 2.34 million shares that changed hands till 0940 hours on BSE and NSE.