Marksans Pharma soars over 14.65% after MIT buys its 66 lakh shares; multibagger stock has risen over 126% in 1 year

Marksans Pharma soared over 12.15 per cent on BSE on Tuesday (April 16, 2024) after the Massachusetts Institute of Technology (MIT) bought 66 lakh shares of the mid-cap company.

The stock that opened at Rs 158.75 rose to the day's high of Rs 178.80, a 14.69 per cent jump from the previous close of Rs 155.90.  

The stock closed the trading session on Tuesday higher by 13.21 per cent, or Rs 20.60, at Rs 176.50.

Multibagger stock

The Marksans Pharma stock has risen by 126.72 per cent in nearly one year. It closed at Rs 77.85 on April 17, 2023. 

Marksans Pharma bulk deal

Massachusetts Institute of Technology acquired 66 lakh shares of the pharma at an average price of Rs 158 apiece, as per the bulk deal data on the National Stock Exchange (NSE).

This took the deal value to Rs 104.28 crore.

Kushal Gupta's call for Marksans Pharma 

Zee Business analyst Kushal Gupta has given a 'buy' call to Marksans Pharma with a target of Rs 160 and stop loss at Rs 153.