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Dishman Pharmaceuticals and Chemicals spurts on acquiring additional 50% stake in Schutz Dishman Biotech

01 Apr 2016 Evaluate

Dishman Pharmaceuticals & Chemicals is currently trading at Rs 337.65, up by 1.80 points or 0.54% from its previous closing of Rs. 335.85 on the BSE.

The scrip opened at Rs. 337.40 and has touched a high and low of Rs. 341.00 and Rs. 334.85 respectively. So far 31141 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 419.70 on 04-Nov-2015 and a 52 week low of Rs. 126.05 on 03-Jun-2015.

Last one week high and low of the scrip stood at Rs. 352.35 and Rs. 332.00 respectively. The current market cap of the company is Rs. 2736.84 crore.

The promoters holding in the company stood at 61.40% while Institutions and Non-Institutions held 23.87% and 14.73% respectively.

Dishman Pharmaceuticals and Chemicals has acquired further 50% stake in Schutz Dishman Biotech, a Joint Venture Indian Company, from the existing JV Partner i.e. Schutz & Co Beteiligungsgesellschaft MBH, Germany for a consideration of EURO 300,000.

The said acquisition will help the company in backward integration for some of its existing products and for manufacturing other APIs. Presently, company is holding 22.33% stake in Schutz Dishman and after acquisition of further 50% stake, Schutz Dishman will become subsidiary of the Company.

Schutz Dishman Biotech (Schutz Dishman) is engaged in the business of manufacturing of Bulk Drugs, Drug formulations and performance Chemicals in India for export markets. Its plant is USFDA approved and is located in the existing campus of DIshman’s Bavla manufacturing facility.

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