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Novartis India rises on plan to sell OTC business to GSK Consumer for Rs 109 crore

14 Jan 2015 Evaluate

Novartis India is currently trading at Rs. 677.80, up by 5.40 points or 0.80% from its previous closing of Rs. 672.40 on the BSE.

The scrip opened at Rs. 680.00 and has touched a high and low of Rs. 680.00 and Rs. 674.00 respectively. So far 10612 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 760.00 on 09-Sep-2014 and a 52 week low of Rs. 394.50 on 14-Feb-2014.

Last one week high and low of the scrip stood at Rs. 688.50 and Rs. 649.25 respectively. The current market cap of the company is Rs. 2149.04 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 3.72% and 21.28% respectively.

Novartis is all set to offload its Over-The-Counter Division (OTC Division) of Indian arm to GlaxoSmithKline Consumer, Indian entity of UK-based GlaxoSmithKline, under the agreement for business transferring between Novartis and GlaxoSmithKline signed last year.

On January 13, 2015, the company’s board approved the transfer of the OTC Division as a going concern by way of a ‘slump sale’ to GSK CPL (affiliate of GSK) for a consideration of Rs 109.7 crore, on or before 22 October 2015, as well as closing of the global Joint Venture transaction between Novartis AG and GS.

As part of its global portfolio transformation, Novartis AG, agreed with GlaxoSmithKline plc, UK on 22 April 2014 to create a global consumer healthcare joint venture. In the joint venture, GSK will own 63.5% stake while Novartis would own the remaining 36.5% holding.

 

Novartis Share Price

1000.55 9.25 (0.93%)
10-Apr-2026 16:59 View Price Chart
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