Shares of Lord’s Mark Industries Ltd, a diversified healthcare and technology-led group, are on investors’ radar after the company shared details of reinvesting funds from the sale of equity shares to expand its medical device unit. The stock began the trading session in the red as benchmark indices Sensex and Nifty tumbled in early trade as crude oil prices surged above the USD 100 per barrel mark. The stock opened at Rs 95.30 on the BSE, down from the previous close of Rs 96.26. However, it later gained to touch an intraday high of Rs 97.25, up Rs 0.99, or 1.02 per cent, from the previous close. In between, it touched the low of Rs 92.85. Last seen, the stock traded at Rs 93.80, down Rs 2.46 or 2.56 per cent. The market cap of the company stood at Rs 4,001.72 crore.Ā
Relative strength index
The stock’s 14-day relative strength index (RSI) is 47.01. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock fell after six consecutive days of gains and traded above the 5-day and 20-day moving averages but below the 50-day, 100-day, and 200-day moving averages.
Promoter proposes reinvesting sale proceeds
The company today said in an exchange filing that a promoter sold 10,356,983 equity shares of the company on September 18, 2026, with a face value of Rs 10 per share. The sale was conducted through a block deal/open market transaction on the BSE, netting the promoter a total consideration of Rs 87.38 crore, which was credited to his bank account.
The promoter has now submitted a confirmation and proposal to the company regarding the use of these proceeds. The promoter stated that the majority of the proceeds from the share sale will be reinvested in the expansion of the company’s medical devices unit. This investment will be made in a practical and acceptable manner to grow the company’s medical devices business. This means that the substantial proceeds from the share sale can be used to expand the company and strengthen the medical devices unit.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)