Hot Pursuit     30-Aug-23
Ami Organics gains after Morgan Stanley buys stake
Ami Organics rose 1.09% to Rs 1332 after Morgan Stanley Asia Singapore Pte non-ODI bought 1.70% equity in the firm through open market transactions on Tuesday, 29 August 2023.
As per the bulk deal data on the BSE, Morgan Stanley Asia Singapore Pte non-ODI purchased 6,21,898 shares at Rs 1250 each. Meanwhile, Girishkumar Limbabhai Chovatia sold 6,25,000 shares at Rs 1250.39 per share.

As on 30 June 2023, Girishkumar Limbabhai Chovatia held 25,95,430 shares or 7.12% equity, in the company.

The stock has risen 18.48% in one month, 12.41% in three months and 35% in one year.

Ami Organics, based in Surat, specializes in specialty chemicals, particularly advanced pharmaceutical intermediates and generic APIs. They have developed over 520 Pharma Intermediates for APIs across 17 therapeutic areas, focusing on R&D in high-growth therapeutic domains.

On a consolidated basis, Ami Organics net profit of rose 12.05% to Rs 16.65 crore while sales rose 8.66% to Rs 142.35 crore in Q1 June 2023 over Q1 June 2022.

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