Alkem Labs Share(NSE: ALKEM) Price: Alkem Laboratories share witnessed a big block deal as soon as trading began today on 22 August.
Share worth Rs 487 crore of the company were sold in this block deal. According to reports, this share has been sold by a promoter of the company itself.
The promoter sold a total of 8.5 lakh share of the pharma company, which is equivalent to about 0.7 percent stake in the company.
This deal took place at an average price of Rs 5,732 per share. After the block deal, Alkem Laboratories shares saw almost flat trading.
However, according to data the company’s promoters are planning to sell a 0.7 percent stake through a block deal, aiming to raise about Rs 477.36 crore.
On the final day of June, The promoters had an overall 56.38 percent stake in Alkem Laboratories.
The company’s share has gained about 12.5 percent since the beginning of this year. At the same time, the price of its share has increased by about 53 percent in the last year.
Meanwhile, the net profit of the pharmaceutical company almost doubled in the June quarter. The company said that the jump in domestic sales helped it increase its profit.
Alkem Laboratories said that its net profit increased to Rs 545.16 crore in the June quarter, from Rs 286.73 crore in the same quarter of the previous financial year.
However, the company’s revenue grew marginally to Rs 3,031.82 crore during this period, from Rs 2,967.72 crore in the same quarter last year.
The company recorded domestic sales of Rs 2,022.3 crore during the June quarter, which shows a growth of 6.4 percent on an annual basis.
This is why the proportion of domestic sales within the company’s total revenues has increased to 67.6 percent in June, up from 65.2 percent in the same quarter last year.
However, international sales fell by 4.6 percent to 967.7 crore during the same period.
Other than that the company has been in the news recently.
Because of the report, it was attempting to acquire Sahajanand Medical Technologies (SMT) the largest Indian manufacturer of cardiac stents at an estimated value of between 3,500 crore and 4,003 crore.
Many major global private equity companies like KKR, Apax Partners, and TPG Capital are also looking to buy this company.
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