Ambalal Sarabhai surges as its arm’s JV gets nod to manufacture, sell SARAQ HCV viral load kit
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Ambalal Sarabhai Enterprises is currently trading at Rs. 37.60, up by 2.45 points or 6.97% from its previous closing of Rs. 35.15 on the BSE.
The scrip opened at Rs. 36.30 and has touched a high and low of Rs. 38.50 and Rs. 36.30 respectively. So far 304922 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.00 on 28-May-2021 and a 52 week low of Rs. 21.50 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 38.50 and Rs. 34.40 respectively. The current market cap of the company is Rs. 288.14 crore.
The promoters holding in the company stood at 30.76%, while Institutions and Non-Institutions held 0.01% and 69.24% respectively.
CoSara Diagnostics, a Joint Venture (JV) of a subsidiary of Ambalal Sarabhai Enterprises and Co-Diagnostics, Inc, has received permission to manufacture and sell its SARAQ Hepatitis C (HCV) Viral Load Kit as an in vitro diagnostic (IVD) from CDSCO.
The approval of this important test marks the 14th IVD to receive clearance by the CDSCO, and strengthens foundation for company’s future growth. Effective HCV treatments are especially useful when used in tandem with tests for diagnosing and monitoring those therapies. This HCV Viral Load kit test adds to expanding menu of valuable diagnostic tools available to company’s growing distributor and laboratory customer base.
Ambalal Sarabhai Enterprises is engaged in manufacturing and marketing of pharmaceutical products, bulk drugs, industrial chemicals, detergents, toiletries, electronics, engineering products, paper, glass and plastic containers and packaging materials.
