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Ambalal Sarabhai Enterprises touches roof on the BSE

Ambalal Sarabhai Enterprises is currently trading at upper circuit of Rs. 12.43, up by 2.07 points or 19.98% from its previous closing of Rs. 10.36 on the BSE.

The scrip opened at Rs. 11.85 and has touched a high and low of Rs. 12.43 and Rs. 11.25 respectively. So far 75069 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 16.45 on 10-Apr-2019 and a 52 week low of Rs. 9.05 on 16-Oct-2019.

Last one week high and low of the scrip stood at Rs. 12.45 and Rs. 10.01 respectively. The current market cap of the company is Rs. 95.26 crore.

The promoters holding in the company stood at 30.76%, while Institutions and Non-Institutions held 0.01% and 69.24% respectively.

CoSara Diagnostics, a joint venture company of Co-Diagnostics Inc., USA and a Synbiotics, a wholly owned subsidiary of Ambalal Sarabhai Enterprises, has obtained regulatory clearance for five tests to be manufactured and sold as in vitro diagnostics (IVDs) from their facility in Ranoli India.

The test for Mycobacterium tuberculosis, malaria, hepatitis B, hepatitis C and human papillomavirus (HPV) meet the requirements of the Central Drug Standard Control Organization (CDSCO) Medical Device Rules (MDR), 2017.

Regulatory clearance allows CoSara for the first time to manufacture and sell the test for the detection of the respective pathogens and microorganisms.

Ambalal Sarabhai Enterprises is engaged in manufacturing and marketing of pharmaceutical products, bulk drugs, industrial chemicals, detergents, toiletries, electronics, engineering products, paper, glass and plastic containers and packaging materials.

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