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Arvind Remedies trades jubilantly on the bourses

13 Feb 2013 Evaluate

Arvind Remedies is currently trading at Rs. 29.90, up by 2.55 points or 9.32% from its previous closing of Rs. 27.35 on the BSE.

The scrip opened at Rs. 28.00 and has touched a high and low of Rs. 31.10 and Rs. 28.00 respectively. So far 24348 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 40.05 on 13-Sep-2012 and a 52 week low of Rs. 20.10 on 18-Jun-2012.

Last one week high and low of the scrip stood at Rs. 31.10 and Rs. 27.10 respectively. The current market cap of the company is Rs. 146.62 crore.

The promoters holding in the company stood at 44.97% while Non-Institutions held 55.03% stake in the company.

Arvind Remedies has received an in-principle approval for demerger of Irungatukottal unit of the company to a new subsidiary company. The board at its meeting held on February 12, 2013 has approved for the same.

Besides, for the purpose the board has also authorized the Managing Director of the company to finalize the names of independent CA and Merchant Banker for appointment and to complete the necessary formalities as may be required.

Arvind Remedies is engaged in manufacturing of pharmaceutical formulations such as tablets, capsules (including soft gels), ointments and liquids. It has a manufacturing facility at Kakkalur in Tamil Nadu.

Peers
Company Name CMP
Sun Pharma Inds. 1675.20
Dr. Reddys Lab 1235.40
Cipla 1238.30
Zydus Lifesciences 942.55
Lupin 2324.25
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