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12-Sep2018

Alembic rises on getting nod to demerge Real Estate undertaking into Shreno

Alembic is currently trading at Rs. 54.65, up by 1.00 points or 1.86% from its previous closing of Rs. 53.65 on the BSE.

The scrip opened at Rs. 54.35 and has touched a high and low of Rs. 55.35 and Rs. 53.20 respectively. So far 126727 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 72.00 on 24-Jan-2018 and a 52 week low of Rs. 35.75 on 24-Jul-2018.

Last one week high and low of the scrip stood at Rs. 56.25 and Rs. 50.05 respectively. The current market cap of the company is Rs. 1377.63 crore.

The promoters holding in the company stood at 63.54%, while Institutions and Non-Institutions held 6.31% and 30.15% respectively.

Alembic has received approval to demerge the identified real estate undertaking of the company into Shreno, an unlisted public limited company, to be implemented by way of a Scheme of Arrangement. The identified real estate undertaking proposed to be demerged would comprise of the Project Management Consultancy (PMC) business, services of which are provided by the company to Shreno. The Board of Directors of the company at its meeting held on September 11, 2018, approved the same.

Alembic is engaged in manufacturing of active pharmaceutical ingredients for anti-parkinsons, anti-depressants, cephalosporins, macrolides and others.


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