Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%
Published On: Tuesday, September 20, 2022 | By: Team KnowMyStock
Shares of enzymes manufacturer Advanced Enzyme Technologies Ltd. jumped 12 percent to Rs 298 on the National Stock Exchange (NSE) on Tuesday's intraday, the most since February this year after Nalanda India Equity Fund increased its stake in the company. On September 20, 2022, Nalanda India Equity Fund purchased 2.91 million equity shares, representing a 2.6 percent stake in Advanced Enzyme Technologies, worth Rs 78.62 crore via block deal, NSE data shows. The sellers in this transaction were the company's promoters, who sold 25.7 lakh shares or 2.5 percent of the total equity. As of the quarter ended June, promoters held a 52.7 percent stake in the company. Nalanda India Equity Fund has been consistently increasing its stake in the company as evident from the data. As of the June quarter, the fund held a 6.2 percent stake in the company worth nearly Rs 200 crore. It had increased its stake in the March quarter this year to 6.1 percent from 4.7 percent last year.
Advanced Enzyme Technologies is a research driven company with global leadership in the manufacturing of enzymes and probiotics. The company providing eco-safe solutions to a wide variety of industries like human health care and nutrition, animal nutrition, baking, fruit & vegetable processing, brewing & malting, grain processing, protein modification, dairy processing, specialty applications, textile processing and others.
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