Pharma stock hits 20% upper circuit after major stake sale
pre-market1 source ↓written by the desknot a recommendation
- cap stands
- ₹2,460 cr
- PE ratio
- 23
- industry average
- 27.7
Shares of Novartis India surged 20% upper circuit after promoter Novartis AG sold 70.68% stake to three private equity firms: WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners. This change in control has sparked strong investor interest, pushing shares to a high of ₹996.50 from ₹830.45.
The market cap stands at ₹2,460 cr, with a PE ratio of 23, below the industry average of 27.7. The expected open offer and potential restructuring are driving optimism among traders.
Not investment advice. For informational purposes only.