Shilpa Medicare surges on acquiring Pilnova Pharma in United States
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Shilpa Medicare is currently trading at Rs. 352.35, up by 3.55 points or 1.02% from its previous closing of Rs. 348.80 on the BSE.
The scrip opened at Rs. 353.35 and has touched a high and low of Rs. 358.00 and Rs. 351.20 respectively. So far 2332 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 384.70 on 31-Aug-2023 and a 52 week low of Rs. 222.40 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 362.30 and Rs. 322.80 respectively. The current market cap of the company is Rs. 3087.98 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 9.01% and 40.99% respectively.
Shilpa Medicare has acquired Pilnova Pharma, Inc in the United States on November 2, 2023, which will now be a wholly owned subsidiary of the company. The object of acquisition is to establish front end presence in the US Market with an objective to capture the full potential of its niche portfolios.
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
