Advanced Enzyme stock surge 33% in 2 days as Nalanda India picks up stake

Advanced Enzyme Technologies share price jumped over 13 percent intraday on September 25, surging over 33 percent in the last 2 days.

Nalanda India Equity Fund acquired a 3.75 percent equity stake in the company via an open market transaction on September 24.

Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 percent of the total paid-up equity) at Rs 263.8 per share, the bulk deals data available on the National Stock Exchange showed.

Foreign portfolio investor (FPI) bought nearly 4 percent stake in the company via open market.

The stock was trading at Rs 308.80, up Rs 36, or 13.20 percent. It has touched a 52-week high of Rs 317.20.

The scrip was trading with volumes of 218,164 shares, compared to its five day average of 65,867 shares, an increase of 231.22 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has strong cash-generating ability from core business - improving cash flow from operation for the last two years. The stock is showing strong momentum: price above short, medium and long term moving averages.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.