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Claris Lifesciences gains on getting nod to sell stake in JV to Otsuka

09 May 2017 Evaluate

Claris Lifesciences is currently trading at Rs. 351.95, up by 4.95 points or 1.43% from its previous closing of Rs. 347.00 on the BSE.

The scrip opened at Rs. 355.00 and has touched a high and low of Rs. 355.00 and Rs. 348.10 respectively. So far 6879 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 430.10 on 16-Dec-2016 and a 52 week low of Rs. 154.90 on 16-May-2016.

Last one week high and low of the scrip stood at Rs. 356.00 and Rs. 340.00 respectively. The current market cap of the company is Rs. 1914.51 crore.

The promoters holding in the company stood at 50.13%, while Institutions and Non-Institutions held 28.34% and 21.53% respectively.

Claris Lifesciences has received an approval for the sale and transfer of the equity shares of Otsuka Pharmaceutical India (formerly knowns as Claris Otsuka) to Otsuka Pharmaceutical Factory, Inc for a consideration of $20 million. The board of directors at their meeting held on May 8, 2017 has approved for the same.

Claris Lifesciences is a multi-business enterprise and the holding company of Claris Injectables, a wholly- owned subsidiary dealing in Speciality Injectables business and has a minority stake in Claris Otsuka. Claris has a total of 11 approved products in the US, around 25 ANDAs under review with the FDA and markets its products in 75+ countries.

Peers
Company Name CMP
Redington 215.50
Adani Enterprises 2237.00
Amrapali Industries 17.69
Rashi Peripheral 458.90
PDS 278.30
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