Unichem Laboratories surges on planning to consolidate generics formulations business in US market
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Unichem Laboratories is currently trading at Rs. 647.00, up by 5.40 points or 0.84% from its previous closing of Rs. 641.60 on the BSE.
The scrip opened at Rs. 670.00 and has touched a high and low of Rs. 670.00 and Rs. 642.25 respectively. So far 5173 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 693.25 on 12-Sep-2024 and a 52 week low of Rs. 398.70 on 03-Nov-2023.
Last one week high and low of the scrip stood at Rs. 671.55 and Rs. 621.95 respectively. The current market cap of the company is Rs. 4526.03 crore.
The promoters holding in the company stood at 70.22%, while Institutions and Non-Institutions held 12.47% and 17.30% respectively.
Unichem Laboratories is planning for integration and consolidation of the generics formulations business in the US market of M/s Bayshore Pharmaceuticals LLC (wholly owned subsidiary of Company’s holding company, Ipca Laboratories) into Unichem Pharmaceuticals (USA) Inc. (company’s wholly owned subsidiary) so as to consolidate all the Ipca Group’s USA generics formulations business under one entity. The meeting of the Board of Directors of the Company scheduled to be held on September 30, 2024 to consider the same.
Unichem Laboratories is an international, integrated, specialty pharmaceutical company.
