Shares of Ami Organics rallied up 8% on 21 December after around 46 lakh shares of the company changed hands via a block deal.

Approximately 46 lakh shares that represent 12.5% equity of the company changed hands on the bonuses for an average price of Rs 1,031 per share, which is a 5% discount from the closing price of Rs 1,083.80 on 20 December.

The buyers and sellers involved in this block deal are yet to be identified.

However, a media outlet reported that the ex-promoters of the company were sellers involved in this transaction, and the buyers included leading wealth management firms and domestic mutual funds.

The block deal triggered a spike in volume on the counter as 52 lakh shares of the company changed hands on the bourses against the one-month daily average of around one lakh shares.

Earlier in December, the company set up a greenfield manufacturing unit in Ankleshwar, Gujarat, for a total consideration of rs 200 crore.

The move is part of its commitment to bolstering its position in the advanced pharmaceutical intermediates segment.

At 3:30 pm, the shares of Ami Organics closed 7.95% higher at Rs 1,170 on NSE.