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Shasun Pharmaceuticals gains on plan to sell its unit situated at JN Pharma City, Vizag

12 Dec 2013 Evaluate

Shasun Pharmaceuticals is currently trading at Rs 79.40, up by 1.40 points or 1.79% from its previous closing of Rs 78.00 on the BSE.

The scrip opened at Rs 77.80 and has touched a high and low of Rs 82.35 and Rs 76.65 respectively. So far 252586 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 172.00 on 13-Dec-2012 and a 52 week low of Rs 45.60 on 26-Jun-2013.

Last one week high and low of the scrip stood at Rs 82.50 and Rs 77.00 respectively. The current market cap of the company is Rs 437.14 crore.

The promoters holding in the company stood at 41.97% while Institutions and Non-Institutions held 18.64% and 39.40% respectively.

Shasun Pharmaceuticals’ board of directors has decided at its meeting held on December 12, 2013 to sell/ transfer the Company's unit situated at JN Pharma City, Vizag to a joint venture or any other person in any manner as the Board may consider appropriate subject to the approval of the shareholders. The Board has decided to obtain Shareholders approval by way of Postal Ballot.

Shasun Pharmaceuticals manufactures active pharmaceutical ingredients (APIs), their intermediates and enteric coating excipients with a significant presence in some key generics. Shasun has created a strong product portfolio, building on its R&D Expertise, regulatory capabilities and multi scale production capacities. It is one of the largest producers of Ibuprofen worldwide.

 

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