Advanced Enzyme extends rally, zooms 45% in 1 week after FPI hikes stake

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

Shares of Advanced Enzyme Technologies hit a fresh 52-week high of Rs 332, ralling 13 per cent on the National Stock Exchange (NSE) on Wednesday, on the back of heavy volumes in an otherwise subdued market. In the past one week, stock of the agricultural products company has zoomed 45 per cent after foreign portfolio investors (FPIs) bought nearly 4 per cent stake in the company via open market. In comparison, the Nifty50 index was up 1 per cent during the period.

On Thursday, September 24, Nalanda India Equity Fund bought 4.19 million equity shares, representing 3.75 per cent stake, in