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Sterling Biotech trades in fine fettle on BSE

22 Nov 2013 Evaluate

Sterling Biotech is currently trading at Rs. 9.65, up by 0.76 points or 8.89% from its previous closing of Rs. 8.89 on the BSE.

The scrip opened at Rs. 9.49 and has touched a high and low of Rs. 9.74 and Rs. 9.04 respectively. So far 1, 07,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 8.89 on 21-Nov-2013 and a 52 week low of Rs. 3.43 on 20-Mar-2013.

Last one week high and low of the scrip stood at Rs. 8.89 and Rs. 5.06 respectively. The current market cap of the company is Rs. 259 crore.

The promoters holding in the company stood at 33.91% while Institutions and Non-Institutions held 9.10% and 40.12% respectively.

Sterling Biotech’s existing Bond Holders at its meeting held on November 20, 2013, have approved for the conversion price of the Bonds, due 2018 to be at Rs. 60 per share, subject to Reserve Bank of India, Foreign Investment Promotion Board and such other regulatory approvals, if any, as may be required; 

The Bond holders have also approved to suspend all litigations in India and UK till January 2014 and to withdraw the litigations in India and UK on completion of the exchange and substitution of the Existing Bonds with and for the Zero Coupon Convertible Bonds due 2018.

Sterling Biotech is largest producer of pharmaceutical and nutraceutical gelatin in India and Asia as well. It has a 9.3% global market share in pharmaceutical gelatin and is among the top five gelatin producers globally.

Peers
Company Name CMP
BASF India 3703.10
Tata Chemicals 709.05
SRF 2493.65
Pidilite Inds. 1393.25
Deepak Nitrite 1538.00
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