Hikal climbs 4%; sells property at raise funds for business operations

Hikal said that the proceeds of the sale will be used towards the current operations of the company. The company had consolidated its research & development (R&D) operations at its main site in Pune in 2014 and had transferred all respective equipment and personnel to that site.

Jan 04, 2017 07:01 IST India Infoline News Service

Hikal
Hikal Ltd is currently trading at Rs 221.95, up by Rs 8.55 or 4.01% from its previous closing of Rs 213.4 on the BSE. The company said that the proceeds of the sale will be used towards the current operations of the company. The company had consolidated its research and development (R&D) operations at its main site in Pune in 2014 and had transferred all respective equipment and personnel to that site.

The scrip opened at Rs 222 and has touched a high and low of Rs 227.4 and Rs 220 respectively. So far 149657(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1754.16 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 241.3 on 03-Nov-2016 and a 52 week low of Rs 116.6 on 31-Mar-2016. Last one week high and low of the scrip stood at Rs 217.3 and Rs 206.5 respectively.

The promoters holding in the company stood at 68.77 % while Institutions and Non-Institutions held 12.48 % and 18.75 % respectively.

The stock is currently trading above its 50 DMA.

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