Thyrocare promoter to exit from the business what should investors do ? By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Thyrocare promoter to exit from the business what should investors do? Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Thyrocare promoter to exit from the business what should investors do?
Dr. Valumani, promoter of Thyrocare Technology Ltd, has entered into agreement to sell his entire holding
(66.1%) in Thyrocare to Pharmeasy for total value of ₹4546 crores (1300 per share). Pharmeasy's parent company will make an open offer to acquire an additional 26% stake in Thyrocare at 1300 per share. Currently, the stock is trading at around 1370 per share and we expect the stock to remain in this range for some time. Short term investors should book profits rather than applying for the open offer. Long term investors should remain invested and wait for fresh buying opportunities. Pharmeasy has a platform along with a good client base, which will elevate Thyrocare’s low-price high-volume business to the next level. We expect the stock to perform well upon completion of this open offer.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
