Strides Shasun is currently trading at Rs. 1035.60, up by 4.10 points or 0.40% from its previous closing of Rs. 1031.50 on the BSE.
The scrip opened at Rs. 1026.00 and has touched a high and low of Rs. 1049.40 and Rs. 1013.90 respectively. So far 23500 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1412.45 on 23-Nov-2015 and a 52 week low of Rs. 822.20 on 10-Feb-2015.
Last one week high and low of the scrip stood at Rs. 1137.00 and Rs. 1019.00 respectively. The current market cap of the company is Rs. 9185.98 crore.
The promoters holding in the company stood at 31.06% while Institutions and Non-Institutions held 46.19% and 22.76% respectively.
Strides Shasun has signed definitive agreements to acquire a controlling stake in Universal Corporation, Kenya. The transaction is subject to statutory approvals and customary closing conditions and expected to be close by 30 June 2016. With this acquisition, the company will get a strong presence in the key east African markets and will complement its current capacities of six strategically located plants across major geographies in Sub Saharan Africa.
Under the terms of the agreement, the company will hold 51% of the issued capital of Universal and the remaining 49% will continue to hold by the current promoters. This is an all-cash deal & the total consideration will consist of initial pay out of $11 million and a performance related earn out capped at $ 3 million for achieving an EBITDA of $ 2.95 million for 2015. The acquisition will be made through Strides Pharma (Cyprus), a wholly owned subsidiary of the company.
Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
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