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Sharon Bio-Medicine rises as its Toxicology Laboratory gets approval from Argentina government

Sharon Bio-Medicine Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532908 | NSE: SHARONBIO

12 Jun 2013 Evaluate

Sharon Bio-Medicine is currently trading at Rs. 339.95, up by 0.25 points or 0.07% from its previous closing of Rs. 339.70 on the BSE.

The scrip opened at Rs. 348.00 and has touched a high and low of Rs. 348.00 and Rs. 339.90 respectively. So far 6197 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 460.00 on 10-Jul-2012 and a 52 week low of Rs. 324.70 on 04-Sep-2012.

Last one week high and low of the scrip stood at Rs. 345.00 and Rs. 339.50 respectively. The current market cap of the company is Rs. 358.99 crore.

The promoters holding in the company stood at 60.27% while Non-Institutions held 39.73% stake in the company.

Sharon Bio-Medicine’s Toxicology Laboratory namely ‘SA-FORD’, which is approved by Organization of Economic Development and Cooperation (OECD) countries, has also got the approval from SENASA a Toxicology approval authority of Government of Argentina. Pursuant to this approval, the company can do toxicology studies of various chemicals including agricultural products of Argentine Companies and Government bodies.

The company’s management in future will try to get more and more Toxicology study approvals from other countries so as to boost the revenue of the company.

Sharon Bio-Medicine’s Toxicology Laboratories is an independent cost centre and is approved by Department of Science & Technology, Government of India. Government of India has approved Good Laboratory Certificate to SA-FORD which is valid as per OECD Countries - GLP studies.

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Sharon Bio-Medicine rises as its Toxicology Laboratory gets approval from Argentina government

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