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Novartis India gains on receiving FIPB nod to sell OTC biz to GSK CPL

01 Sep 2015 Evaluate

Novartis India is currently trading at Rs 808.00, up by 3.00 points or 0.37% from its previous closing of Rs. 805.00 on the BSE.

The scrip opened at Rs. 813.00 and has touched a high and low of Rs. 815.00 and Rs. 769.00 respectively. So far 2649 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 982.00 on 20-Jul-2015 and a 52 week low of Rs. 539.95 on 27-Mar-2015.

Last one week high and low of the scrip stood at Rs. 825.00 and Rs. 755.00 respectively. The current market cap of the company is Rs. 2588.82 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 1.72% and 23.28% respectively.

Novartis India has received approval from Foreign Investment Promotion Board (FIPB) to sell its OTC division to GlaxoSmithKline Consumer (GSK CPL). Pursuant to the terms of the approval dated January 13, 2015 given by the Board of Directors of the Company and in light of the approval dated August 20, 2015 given by the FIPB to GSK CPL, the Company and GSK CPL will proceed with completing the documentation required to complete this transaction.

Earlier in January 2015, the company’s board approved the sale of its OTC division to GlaxoSmithKline Consumer-- a consumer healthcare joint venture between Novartis AG and GSK -- for a consideration of Rs 109.7 crore. The move followed a global deal struck in April last year, under which Switzerland-based Novartis AG had agreed with UK-based GlaxoSmithKline plc to create a global consumer healthcare joint venture, GlaxoSmithKline Consumer (GSK CPL), as part of their global portfolio transformation.

Novartis is a world leader in the research and development of products to protect and improve health and well-being. The company has core businesses in pharmaceuticals, vaccines, consumer health, generics, eye care and animal health.

Novartis Share Price

1013.60 13.05 (1.30%)
13-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Redington 218.50
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Amrapali Industries 17.34
Rashi Peripheral 425.55
PDS 289.25
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