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 The leading web portal for pharmacy resources, news, education and careers September 19, 2017
Pharmacy Choice - Pharmaceutical News - Ajanta Pharma jumps 3% on amalgamation approval [India Infoline News Service] - September 19, 2017

Pharmacy News Article

 3/20/17 - Ajanta Pharma jumps 3% on amalgamation approval [India Infoline News Service]

Ajanta Pharma gained 3.2% in Monday's trade as the company's board of directors approved amalgamation of Gabs Investments with itself. Ajanta Pharma gained 3.2% in Monday's trade as the company's board of directors approved amalgamation of Gabs Investments with itself.

The company for FY 2016-17 has also approved payment of interim dividend at Rs 7 per share.

Ajanta Pharma on the NSE is currently trading at Rs 1846 per share, and is up by Rs 52 per share or 2.9%. The stock has delivered in a period of one year returns of over 37%, outperforming the BSE Healthcare index, and underperforming the BSE Mid-cap index over the same time period.

Ajanta Pharma is a pharmaceutical company which is engaged in producing, developing and marketing generic & branded formulations.

The Company in Asia and Africa trades in branded generics, while in the US it trades in generic products.

Stock view:-

Ajanta Pharma Ltd is currently trading at Rs 1838.5, up by Rs 45.25 or 2.52% from its previous closing of Rs 1793.25 on the BSE.

The scrip opened at Rs 1810 and has touched a high and low of Rs 1851 and Rs 1805.55 respectively. So far 303445(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 15781.5 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 2150 on 28-Oct-2016 and a 52 week low of Rs 1311.75 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 1798.05 and Rs 1714 respectively.

The promoters holding in the company stood at 73.78 % while Institutions and Non-Institutions held 12.43 % and 13.79 % respectively.

The stock is currently trading above its 200 DMA.



(c) 2017India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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