Natco Pharma rises on getting nod to sell stake in Nativita
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Natco Pharma is currently trading at Rs. 615.05, up by 5.85 points or 0.96% from its previous closing of Rs. 609.20 on the BSE.
The scrip opened at Rs. 615.00 and has touched a high and low of Rs. 620.10 and Rs. 612.00 respectively. So far 22145 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 993.45 on 06-Sep-2021 and a 52 week low of Rs. 607.00 on 02-Sep-2022.
Last one week high and low of the scrip stood at Rs. 627.95 and Rs. 607.00 respectively. The current market cap of the company is Rs. 11218.14 crore.
The promoters holding in the company stood at 48.80%, while Institutions and Non-Institutions held 26.95% and 24.25% respectively.
Natco Pharma has received approval to sell the stake in Nativita and assets of Pharma division investment of 15% of shareholding in Joint Liability Company (JLLC) ‘Nativita’, a Company registered under the Companies Law of the Republic of Belarus for an amount of 3,45,000 Euros to Pharmasyntez-Nord Joint Stock Company, a legal entity under the laws of the Russian Federation subject to the approval of the Statutory and Regulatory Authorities.
The board approved proposal to assign the leasehold land wherein the Company’s Pharma Division is situated i.e., Plot No. 19 and Plot No. 18-A situated at Pharma City, SIIDCUL, Selaqui, Tehsil - Vikasnagar, Dehradun, Uttarakhand, India and sell the buildings, plant, machinery and fixtures constructed and/or installed to Odon Lifesciences for an amount of Rs 15.73 crore which is subject to the approval of State Infrastructure and Industrial Development Corporation of Uttarakhand (SIIDCUL), other Statutory and Regulatory Authorities. The Board of Directors of the Company at their meeting held on September 02, 2022 have considered and approved the same.
Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
