Merck declines after LIC sells 2.06% stake

16 Jan 2018 Evaluate

Merck is currently trading at Rs. 1574.15, down by 66.70 points or 4.06 % from its previous closing of Rs. 1640.85 on the BSE.

The scrip opened at Rs. 1634.00 and has touched a high and low of Rs. 1634.00 and Rs. 1563.00 respectively. So far 8189 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1687.30 on 15-Jan-2018 and a 52 week low of Rs. 933.00 on 23-Jan-2017.

Last one week high and low of the scrip stood at Rs. 1687.30 and Rs. 1310.00 respectively. The current market cap of the company is Rs. 2631.00 crore.

The promoters holding in the company stood at 51.80%, while institutions and non-institutions held 14.46% and 33.74% respectively.

The country’s largest insurer, Life Insurance Corporation of India (LIC) has sold 2.06% stake in drug and chemical firm Merck through an open market transaction. With the sale, the total shareholding of the insurer has come down to 5.6%.

The insurer has sold 3,43,147 shares totaling 2.06% in the company. Earlier, LIC had 12,74,823 shares in the company constituting 7.68% stake.

Merck is engaged in manufacturing and marketing of pharmaceuticals, bulk drugs, fine chemicals and pigments. The company operates through two segments - Pharmaceuticals and Chemicals.

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