Ipca Laboratories is currently trading at Rs. 282.00, up by 5.00 points or 1.81% from its previous closing of Rs. 277.00 on the BSE.
The scrip opened at Rs. 283.10 and has touched a high and low of Rs. 283.10 and Rs. 278.10 respectively.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 351.00 on 14-Jun-2011 and a 52 week low of Rs. 255.10 on 10-Mar-2011.
Last one week high and low of the scrip stood at Rs. 314.45 and Rs. 271.00 respectively. The current market cap of the company is Rs. 3,544.00 crore.
The promoters holding in the company stood at 46.05% while Institutions and Non-Institutions held 32.28% and 21.67% respectively.
Ipca Laboratories has received an approval for amalgamation of Tonira Pharma with the company with effect from April 01, 2011 being the appointed date through a scheme of amalgamation. The board at its meeting held on September 17, 2011 has considered and approved the same. However, the proposed scheme of amalgamation will be subject to all necessary permissions and approvals, as may be required.
Further, the scheme envisages an exchange ratio of six equity shares of Rs 2 each fully paid-up of Ipca Laboratories for every one hundred equity shares of Rs 10 each fully paid-up of Tonira Pharma. The exchange ratio is based on the joint valuation made by Natvarlal Vepari & Company, Chartered Accountants and G. M. Kapadia & Company, Chartered Accountants.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations. It operates in 110 countries and its export accounts for 50% of the company’s income. Worldwide the company is one of the largest suppliers of APIs and intermediates. The company holds leadership position in Anti-malarial and Rheumatoid Arthritis area.
Tonira Pharma is engaged in the business of manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) and intermediates. Tonira undertakes contract synthesis both on exclusive and non-exclusive basis. The company has the capability to provide contract research and manufacturing services to its customers.
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