Advanced Enzyme Technologies

Advanced Vital Enzymes Private Limited, the promoter of Advanced Enzyme Technologies, has offloaded 2.57 million equity shares at a price of Rs 270.04 per share

Advanced Vital Enzymes Private Limited, the promoter of the company, had sold 3 million equity shares or 2.69 per cent stake at price of Rs 265 per share on the NSE on September 24

On Thursday, Nalanda India Equity Fund bought 4.19 million equity shares, representing 3.75 per cent stake, in Advanced Enzyme for Rs 111 crore

The company may benefit from an increase in healthcare spending in the US and India.

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

The stock slipped 11% to Rs 1,601 after the company reported 28% YoY decline in its profit at Rs 14 cr in Q3FY17

The Indian enzyme market stood at $105 million last year

The stock hit an intra-day high of Rs 1,949, appreciated 118% compared to its issue price of Rs 896 per share.

On Monday, Reliance Mutual Fund - Vision Fund acquired 200,000 shares at price of Rs 1,229.43 per share, the NSE data shows.

The stock listed at Rs 1,210 as against its issue price of Rs 896 per share on the NSE and BSE

Niche play with robust growth potential should translate to higher earnings trajectory