Kerala Ayurveda rises on getting nod to enter into BTA for purchase of Nutraceutical product range
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Kerala Ayurveda is currently trading at Rs. 110.60, up by 5.05 points or 4.78% from its previous closing of Rs. 105.55 on the BSE.
The scrip opened at Rs. 107.30 and has touched a high and low of Rs. 110.60 and Rs. 106.05 respectively. So far 2045 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 144.75 on 11-May-2023 and a 52 week low of Rs. 65.60 on 27-Sep-2022.
Last one week high and low of the scrip stood at Rs. 111.45 and Rs. 103.65 respectively. The current market cap of the company is Rs. 111.42 crore.
The promoters holding in the company stood at 61.52%, while Institutions and Non-Institutions held 0.05% and 38.44% respectively.
Kerala Ayurveda (KAL) has received approval for entering into a Business Transfer Agreement (BTA) for purchase of Nutraceutical product range- Nutraveda, one of the Business Undertakings of Katra Phytochem India (KPIPL). The company is already present in the business of manufacturing and selling ayurveda products. The proposed transaction will help the company to expand its presence in the said space through increase in product pipeline. The Board of Directors of the company at its meeting held on July 12, 2023 has approved the same.
KAL was founded on the banks of river Periyar at Aluva, Kochi, Kerala, India in 1945 by Late Vaidyan K G K Panicker, the renowned Ayurvedacharya. He was a doyen in Ayurvedic system, a visionary and a mentor.
