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Insider Trade
Good Tidings In Store
Of late, RPG group promoter and chairman Harsh Goenka has been increasing his stake through open-market transactions
COMMENTS PRINT

Among RPG group companies, which include some well-known names such as Ceat and Kec International, RPG Life Sciences is the least known. However, of late, promoter and group chairman Harsh Goenka has been increasing his stake through open-market transactions. Over the past one month, Goenka increased his personal stake from 0.22 % to 2.3 % at an average price of Rs 96. The total promoter holding in the company is around 62% with zero pledge. RPG Life, with an over Rs 190 crore market cap and a turnover of Rs 244 crore, offers a range of high-value synthetic API in the general therapeutic category. With a presence in Europe, Latin America and Asia, the company is now foraying into the US markets. Over the years, its debt has reduced amid rising profits. In FY14, profit jumped 12-fold to Rs 53 crore. At a time when operating performance is improving, Goenka’s market action indicates that the best is yet to come.

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$5,731 Copper (price per tonne) is trading at a five-year low on the LME after peaking out at $6,000 levels

COMMENTS PRINT
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