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Panacea Biotec spurts on inking pact to divest 100% stake in NewRise Healthcare
Apr-21-2017

Panacea Biotec is currently trading at Rs. 165.10, up by 6.00 points or 3.77% from its previous closing of Rs. 159.10 on the BSE.

The scrip opened at Rs. 160.90 and has touched a high and low of Rs. 174.40 and Rs. 156.20 respectively. So far 117482 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 178.30 on 27-Jan-2017 and a 52 week low of Rs. 85.50 on 26-May-2016.

Last one week high and low of the scrip stood at Rs. 174.40 and Rs. 152.45 respectively. The current market cap of the company is Rs. 1009.41 crore.

The promoters holding in the company stood at 74.60%, while Institutions and Non-Institutions held 0.06% and 25.34% respectively.

Panacea Biotec has entered into a definitive agreement to divest its 100% stake held in NewRise Healthcare (NHPL) which has set up a multi-speciality hospital at Gurugram which is near completion, to Narayana Hrudayalaya (NH).

Under the definitive agreement, the company has agreed to sell its 100% equity shares in NHPL to NH and the company's associate company PanEra Biotec has agreed to sell 100% preference shares in NHPL to NH.  

Panacea Biotec is one of India’s leading research based Biopharmaceutical Company with established research, manufacturing and marketing capabilities. The company has product portfolio that’s caters therapeutics areas like pain management, diabetes and cardiovascular management, renal disease management, osteoporosis management, anti-tubercular, gastro-intestinal.


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