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On the technical charts, the 200-day moving average of the stock stood at Rs 95.41.

The brokerage now downgrades the stock from BUY to HOLD amid lack of clarity on the company’s strategic intent behind this investment in Pricol and b/s risk in case of any potential acquisition.

The Nifty Pharma index was trading 0.08 per cent up at 12064.65.

With capacity expansion in high growth regions like east & central, the brokerage expects strong growth momentum, going forward

A total of 82,583 shares changed hands on the counter till 11:44AM (IST)

As of 31-Dec-2022, promoters held 0.0 per cent stake in the company, while FIIs held 23.39 per cent and domestic institutional investors had 14.3 per cent.

The new freight rates finalised with transporters for single axle trucks of 12 tonnes would be Rs 10.30 a tonne per km for Ambuja Cements’ Darlaghat plant and ACC’s Gagal plant as compared to earlier rates of Rs 11.41 for Gagal and Rs 10.58 for Darlaghat units earlier.

The rupee is up 0.1% against the dollar this year and is in the lower pack among Asian currencies, while its high-yielding counterpart, the Indonesian rupiah is up 2.6%. It is closing in on its record low of 83.2912 to a dollar seen in October.

The stock quoted a 52-week high of Rs 430.7 and a 52-week low of Rs 291.65.

The Nifty IT index closed 0.54 per cent up at 31222.35.