Neuland Laboratories Ltd's promoter has sold 4 lakh shares

Neuland Laboratories Limited (NLL) (NSE: NEULANDLAB; BSE:524558), a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing solutions services to customers located in around 80 countries, has been informed that Dr. Davuluri Rama Mohan Rao, Founder & Promoter and Executive Chairman of Neuland Laboratories Limited (the Company) has sold 4,00,000 equity shares of the Company (i.e. 3.12% stake) today through open market at an average price of Rs. 5,012.45.

Dr. Rao has informed that he intends to use the funds generated from this sale for personal purposes. Davuluri family does not plan to sell any further shares in the foreseeable future and are fully committed and invested in the future of Neuland Laboratories Limited.

Shares of Neuland Laboratories Limited was last trading in BSE at Rs. 5171.95 as compared to the previous close of Rs. 5077.25. The total number of shares traded during the day was 551047 in over 3552 trades.

The stock hit an intraday high of Rs. 5587.50 and intraday low of 5010.00. The net turnover during the day was Rs. 2787976731.00.

Source : Equity Bulls

Keywords

NeulandLaboratories INE794A01010 Promoter ShareSale