Good tidings in store | Outlook Business
Home  /  Markets  /  Trend  / Good tidings in store | MAR 06 , 2015


Good tidings in store
Harsh Goenka has been increasing his stake in RPG Life through open-market transactions

Team Outlook Business

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 ₹96. The total promoter holding in the company is around 62% with zero pledge. RPG Life, with an over ₹190 crore market cap and a turnover of ₹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 ₹53 crore. At a time when operating performance is improving, Goenka’s market action indicates that the best is yet to come. 

Here's your chance to read the latest issue of Outlook Business for free! Download the Outlook ​Magazines app now. Available on Play Store and App Store
On Stands Now