Rekha Jhunjhunwala sells 0.5% stake in this smallcap co at steep discount

Rekha Jhunjhunwala, wife of Rakesh Jhunjhunwala, has sold 0.5% stake in BSE-listed smallcap company Bilcare Limited through a bulk deal on Monday.

According to the data on the exchange, Jhunjhunwala sold 1,35,994 shares of the packaging solutions provider at Rs 41.78 a share, aggregating up to Rs 57 lakh. This price is at a steep discount of over 9% to Friday’s closing of Rs 46.05.

The sale exerted pressure on the stock, as it plunged 9% to settle at Rs 41.90 on the BSE.


The stock snapped a six-day winning streak on Monday. During this period, the stock rose by a whopping 33%. This may have prompted the investor to book some profits.

The gains in the last session notwithstanding, the stock has been a major laggard in 2022. Its value has more than halved last year and it hit an over two-year low of Rs 31.10 in December.

The company is a global leader in providing packaging material solutions for the pharmaceutical industry.

For the quarter ended September, the company reported a 42% year-on-year (YoY) rise in revenue to Rs 151 crore. However, it posted a net loss of Rs 6.8 crore against a profit of Rs 22 crore in the year-ago period.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)