Zyden Gentec is locked in lower circuit for eight straight day, down 5% at Rs 15.25 on the BSE, after the Punjab National Bank (PNB) have offloaded around one-third of its holding in the company via open market.
At 1215 hours, around 53,000 shares have changed hands on the counter and there are pending sell orders for 93,893 shares on the BSE.
The public sector lender had sold 335,141 shares representing 3% stake of the pharmaceutical company for total consideration of Rs 67 lakh.
On January 1, PNB had sold 185,141 shares of Zyden Gentec at price of Rs 16.15, while on December 19, 2013, the bank had offloaded 150,000 shares at price of Rs 24.95, the BSE bulk deal data shows.
PNB held 1.02 million shares or 9.21% stake in the company as September 30, 2013, the shareholding pattern data shows.
Since December 19, the stock has tanked 38% from Rs 24.65, compared to nearly 8% rise in S&P BSE Small-cap index.
At 1215 hours, around 53,000 shares have changed hands on the counter and there are pending sell orders for 93,893 shares on the BSE.
The public sector lender had sold 335,141 shares representing 3% stake of the pharmaceutical company for total consideration of Rs 67 lakh.
On January 1, PNB had sold 185,141 shares of Zyden Gentec at price of Rs 16.15, while on December 19, 2013, the bank had offloaded 150,000 shares at price of Rs 24.95, the BSE bulk deal data shows.
PNB held 1.02 million shares or 9.21% stake in the company as September 30, 2013, the shareholding pattern data shows.
Since December 19, the stock has tanked 38% from Rs 24.65, compared to nearly 8% rise in S&P BSE Small-cap index.
Zyden Gentec Limited, research based global pharmaceutical company focused on development, manufacturing and marketing of Active Pharmaceutical Ingredients (bulk drugs).
Initially it was recognized as Overseas Capital Limited but through reverse merge change its name and business line from non-banking financial company to pharma with a objective to carry on its business to design, develop, patent, manufacture and market of bulk drugs, specialized chemicals and pharma products.
