Quote on Cadila healthcare business sale by Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Cadila healthcare business sale by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Cadila Healthcare Ltd completes sale of its Animal Healthcare business for ₹2921 Crores.
Earlier in May 2021, the company announced the sale of 100% stake in Animal Healthcare business as the company wanted to focus on its core businesses. Company signed a business transfer agreement and other agreements for sale and disposal of animal healthcare established markets undertaking of Zydus Animal Health and Investments Limited, a wholly owned subsidiary company of the Company to Zenex Animal Health India Private Limited for the consideration of ₹2921 Crores.
This is positive for the Cadila Healthcare Ltd, as the company will be able to repay its debt and to continue to focus on core business. We have a Neutral rating for Cadila Healthcare Ltd.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
