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16-Apr2019

Suven Life Science gains on getting nod to enhance investment limits in USA subsidiary

Suven Life Sciences is currently trading at Rs. 272.75, up by 2.65 points or 0.98% from its previous closing of Rs. 270.10 on the BSE.

The scrip opened at Rs. 272.85 and has touched a high and low of Rs. 274.50 and Rs. 272.05 respectively. So far 6676 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 337.70 on 11-Sep-2018 and a 52 week low of Rs. 173.30 on 19-Apr-2018.

Last one week high and low of the scrip stood at Rs. 274.50 and Rs. 266.10 respectively. The current market cap of the company is Rs. 3437.90 crore.

The promoters holding in the company stood at 60.00%, while Institutions and Non-Institutions held 8.48% and 31.52% respectively.

Suven Life Science's board has approved the enhancement of investment limits in wholly owned subsidiary (WOS) in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline. The Board of directors of the company at its meeting held on April 15, 2019 has approved for the same.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.


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