Strides Pharma Science inches up as its arm acquires additional stake in Neviton Softech
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Strides Pharma Science is currently trading at Rs. 712.75, up by 2.40 points or 0.34% from its previous closing of Rs. 710.35 on the BSE.
The scrip opened at Rs. 714.50 and has touched a high and low of Rs. 717.65 and Rs. 707.80 respectively. So far 12136 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 735.20 on 05-Jan-2024 and a 52 week low of Rs. 268.40 on 21-Mar-2023.
Last one week high and low of the scrip stood at Rs. 735.20 and Rs. 647.45 respectively. The current market cap of the company is Rs. 6563.86 crore.
The promoters holding in the company stood at 27.78%, while Institutions and Non-Institutions held 37.16% and 35.06% respectively.
Strides Pharma Science’s wholly-owned subsidiary -- Arco Lab has acquired additional stake in Neviton Softech, an Associate Company of Strides Group. With the said acquisition, Arco Lab holds 50% stake in Neviton.
With the investment, Neviton Softech and Arco lab synergize their strengths and enables Arco lab to offer better knowledge-based and IT services ensuring higher scale, scope and significant cash savings and enable better internal group wise digitization process. Accordingly, Neviton’s acquisition is complementary to Arco Lab’s business objectives.
Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.
