Aurobindo Pharma jumps on acquiring 51% stake in GLS Pharma

Aurobindo Pharma is currently trading at Rs. 583.95, up by 3.55 points or 0.61% from its previous closing of Rs. 580.40 on the BSE.

The scrip opened at Rs. 579.45 and has touched a high and low of Rs. 586.35 and Rs. 566.60 respectively. So far 98079 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 767.45 on 15-Sep-2021 and a 52 week low of Rs. 503.40 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 603.80 and Rs. 566.60 respectively. The current market cap of the company is Rs. 34265.69 crore.

The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 38.01% and 10.15% respectively.

Aurobindo Pharma has completed the acquisition of 51% of equity share capital of GLS Pharma, operating in oncology business and having manufacturing facility in Hyderabad. Post-acquisition GLS Pharma has become the subsidiary of the company.

Earlier, the board of director of the company had approved the aforesaid acquisition for total consideration of Rs 28.05 crore.

Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.