On August 22, a good block deal was seen in Eris Lifesciences, wherein about 98.9 lakh shares, or 7.27 per cent of the company’s equity changed hands at ₹1,201 per share. The deal value was ₹1,187 crore.
The identities of the buyers and sellers who were parties to the block deal could not be ascertained immediately. Eris Lifesciences’ stock jumped almost 3% and was quoted at ₹1,247.45 on the NSE after the transaction. It touched an intraday high of ₹1,250, up 3.07%.
This comes after the pharma stock’s stellar run seen in the last few days’ performance, up by 3.75 per cent during such period. Franklin Templeton had also hiked its stake in Eris Lifesciences in July as it picked up an additional 0.8 percent equity for ₹109 crore, taking its total stake to 2.26 percent.
The transaction has continued to evoke interest in Eris Lifesciences, indicating the fine position of the firm in the pharmaceutical sectors.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
News Desk
