Panama Petrochem surges 25% in two days as Ramesh Damani buys 1% stake
Shares of Panama Petrochem hit a record high of Rs 322.30 after rallying 12 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market. This came on the back of heavy volumes.
In the past two trading days, the stock of the refineries/petro products company has surged 25 per cent, after investor Ramesh Damani bought over 1 per cent stake in the company during October-December quarter (Q3).
As on Q3, Ramesh Damani held 616,379 equity shares representing 1.26 per cent stake in Panama Petrochem, according to the shareholding pattern filed by the company on Wednesday. Damani held nil or below 1 per cent stake at the end of September quarter (Q2), data showed.
