Shilpa Medicare once again on high

Shilpa Medicare has consistently been hitting new highs since the past three days. Today too, it hit a new high at Rs.457.75, with volumes jumping up over one time.

The stock is up in anticipation of the outcome of today’s Board meeting to consider a preferential issue. With a 10.68% holding by FIIs, mainly PE Funds like Baring Private Equity Partners and Tano Capital, the hope is that stake will only go up further. Promoters stake stands at 55.88%.