Shares of Hikal Ltd. surged nearly 12 percent to Rs 413 per piece on Friday, marking its maximum gain in six months.
In the last month, the stock has gained nearly 20 percent, while in the past year it has dropped 22 percent. However, in the past three-year period, the shares have given a return of 243 percent.
Founder and Executive Chairman, Jai Hiremath, recently purchased equity shares of Hikal worth Rs 19 million at an average value of Rs 351 per equity share, according to a Simply WallSt report on Thursday.
The purchase made by Hiremath is termed the ‘biggest insider purchase’ of Hikal’s shares in the past year.
Hikal is a provider of life sciences value chain solutions to pharma and chemical businesses.
In the September quarter, Hikal Ltd. posted a net profit of Rs 24.84 crore, falling 43.62 percent from Rs 44.06 crore in the year-ago quarter.
The company’s revenue increased 19.12 percent to Rs 558.75 crore, compared to Rs 469.06 crore in the year-ago quarter, and EBITDA rose 22.65 percent on a YoY basis to Rs 70.98 crore.
