SBI Mutual Fund Invests Rs 300 Crore in Alkem Laboratories

New Delhi, Feb 21 (PTI) SBI Mutual Fund on Friday bought additional shares of pharmaceutical company Alkem Laboratories for Rs 300 crore through an open market transaction.

According to the block deal data available on the National Stock Exchange (NSE), SBI Mutual Fund acquired 6.41 lakh shares or 0.54 per cent stake in Mumbai-headquartered Alkem Laboratories.

The shares were picked up at an average price of Rs 4,680 apiece, taking the transaction value to Rs 300.32 crore.

After the stake buy, SBI Mutual Fund's holding in Alkem rose to 2.7 per cent from 2.16 per cent.

Meanwhile, Samprada & Nanhamati Singh Family Trust (related to Alkem promoters) offloaded the same number of shares of the company, showed the data on the NSE.

On Friday, shares of Alkem Laboratories fell 2.54 per cent to close at Rs 4,600.05 apiece on the NSE.