Alkem Laboratories gains on getting nod to transfer trade generics business to M/s. Alkem Wellness
Alkem Laboratories is currently trading at Rs. 5501.00, up by 43.20 points or 0.79% from its previous closing of Rs. 5457.80 on the BSE.
The scrip opened at Rs. 5549.95 and has touched a high and low of Rs. 5549.95 and Rs. 5428.20 respectively. So far 226 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 6440.00 on 17-Sep-2024 and a 52 week low of Rs. 4409.90 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 5697.45 and Rs. 5428.20 respectively. The current market cap of the company is Rs. 65479.17 crore.
The promoters holding in the company stood at 55.66%, while Institutions and Non-Institutions held 28.23% and 16.10% respectively.
Alkem Laboratories has received approval from board of directors for transfer of the trade generics business of the Company as a going concern, on a slump sale basis, to M/s. Alkem Wellness, a wholly owned subsidiary of the Company, incorporated in India. The transaction is proposed to be effected through a business transfer agreement and will be effective on or before April 01, 2025 or such other date as may be mutually agreed between the parties, subject to customary closing conditions.
The Board of Directors of Alkem Laboratories at its meeting held on December 10, 2024 has approved the same.
Alkem Laboratories is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.