India, Feb. 20 -- The shares of this company, which is primarily a marketing and distribution-focused pharmaceutical company, were in momentum today after the company announced its promoter stake sale to 3 private equity firms, shifting the promoter ownership status.

With a market cap of Rs 2,460 crore, the shares of Novartis India Ltd hit 20% U.C in today's trading session and reached a high of Rs 996.50. When compared to its previous day's closing price of Rs 830.45, the shares are trading at a PE of 23 compared to its industry PE of 27.7.

About the stake sale Novartis India Limited was the major upper circuit stock at 20%, mainly because of the news that its promoter, Novartis AG, will divest its 70.68% stake (17,450,680 shares) to ...