This smallcap stock gains 25% in 3 sessions as Rekha Jhunjunwala sells her stake

Between January 9-11, Rekha Jhunjhunwala has cumulatively amount sold by her stands at 15.9 lakh shares

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Pharma packaging solutions provider Bilcare has been in the limelight through the past few trading sessions after Rekha Jhunjhunwala, wife of legendary investor Rakesh Jhunjhunwala, began selling stake in the company.

At 10:15am, the stock was quoting at Rs 53.10 on the BSE, higher by 4.94 percent. On January 10 and 11, it gained 10 percent and hit the upper circuit.

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In the past one month, it has gained 45 percent, and is up 36 percent in January so far. However, the stock is 53 percent below its 52-week high of Rs 114 hit on January 18, 2022.

Between January 9 and 11, Rekha Jhunjhunwala first sold 1.3 lakh shares at Rs 41.78 apiece, then 7.9 lakh shares at Rs 46 each, and later 6.7 lakh shares at Rs 50.3 each. In all, she sold off 15.9 lakh shares.

As per the BSE, the stake was picked up by individual investors Guttikonda Vara Lakshmi and Kailash Chand Singhi.

In the September 2022 shareholding, Rekha Jhunjhunwala’s name does not appear but at the end of June 2022, she had 1.11 percent stake in the company. A 7.37 percent stake also appears under the late Rakesh Jhunjhunwala’s name on the BSE in June shareholding.

Bilcare offers innovative pharmaceutical packaging solutions comprising a wide range of specialty polymer films and aluminum foils mainly used for packaging of solid dosage products.

For the quarter ended September, it reported a 42 percent year-on-year (YoY) rise in standalone revenue to Rs 151 crore. However, it clocked a net loss of Rs 6.8 crore against a standalone profit of Rs 22 crore a year back.