Strides Shasun is currently trading at Rs. 1151.15, up by 0.15 points or 0.01% from its previous closing of Rs. 1151.00 on the BSE.
The scrip opened at Rs. 1152.00 and has touched a high and low of Rs. 1154.25 and Rs. 1141.80 respectively. So far 4,103 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1259.00 on 03-Feb-2017 and a 52 week low of Rs. 918.00 on 29-Aug-2016.
Last one week high and low of the scrip stood at Rs. 1172.85 and Rs. 1121.95 respectively. The current market cap of the company is Rs. 10,277.00 crore.
The promoters holding in the company stood at 31.14%, while Institutions and Non-Institutions held 49.05% and 19.81% respectively.
Strides Shasun’s board of directors on the recommendation of audit committee has approved the composite scheme of arrangement with Sequent Scientific and SSL Pharma Sciences. Through this scheme, the commodity API business of Strides and human API business of Sequent Scientific will be demerged to SSL Pharma Sciences, a wholly-owned subsidiary of Strides, by October 1.
With the demerger, shareholders of Strides and Sequent Scientific will hold 60 per cent and 40 per cent, respectively. The capital base for the new entity will be Rs 25 crore as opposed to the current capital base of Rs 89.42 crore of Strides and Rs 48.75 crore of Sequent Scientific. Every shareholder of Strides will get one equity share of Rs 10 each of SSL Pharma Sciences for every six equity share of Rs 10 each held by them in Strides.
Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.