Vivimed Labs is currently trading at Rs. 114.95, up by 1.85 points or 1.64% from its previous closing of Rs. 113.10 on the BSE.
The scrip opened at Rs. 114.25 and has touched a high and low of Rs. 117.00 and Rs. 113.75 respectively. So far 88949 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 136.40 on 20-Apr-2017 and a 52 week low of Rs. 68.00 on 09-Aug-2016.
Last one week high and low of the scrip stood at Rs. 122.00 and Rs. 109.00 respectively. The current market cap of the company is Rs. 943.66 crore.
The promoters holding in the company stood at 36.48%, while institutions and non-institutions held 4.68% and 58.85% respectively.
Vivimed Labs has inked a definitive agreement with Strides Shasun to grow its presence in the US finished dosage formulation (FDF) business segment. This 50-50 JV in India, will house the company’s US FDA inspected FDF facility in Alathur, Tamil Nadu, and the 50-50 JV in Singapore will house its current portfolio of ANDAs.
The company believes the JV partnership with Strides Shasun offers its portfolio of products the synergies from Strides Shasun’s existing front end in the US market. This coupled with Vivimed’s product development pipeline for the US offers the JV a strong opportunity to grow its footprint aggressively.
MAP India is the exclusive advisor to Vivimed Labs for the above transaction with Strides Shasun.
