Bad news for Jhunjhunwala as Concord Biotech loses Rs 1,590 crore, stock goes down by 30%

Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, faced a significant setback as Concord Biotech shares plummeted 30% in just two trading sessions. The value of Jhunjhunwala's stake in the company dropped by approximately Rs 1,590.42 crore, falling from Rs 5,321.32 crore to Rs 3,730.90 crore on Monday. This sharp decline has dealt a blow to the Jhunjhunwala portfolio, highlighting the volatility in the pharmaceutical sector. The sudden drop in Concord Biotech's stock price has raised concerns among investors and market analysts, who are closely monitoring the situation for potential recovery or further decline.

 

Source: Business Today