Strides to acquire PediaCare from Moberg Pharma

India Infoline News Service | Mumbai | November 25, 2016 17:11 IST

The company announced that its wholly owned subsidiary Strides Arcolab International Limited, UK has entered into an agreement with Moberg Pharma, Sweden to acquire the 'PediaCare' brand for a total consideration of US$ 5 million plus inventory value at closing.

Medical supplies, pills and capsules
Strides Shasun Limited today announced that its wholly owned subsidiary Strides Arcolab International Limited, UK has entered into an agreement with Moberg Pharma, Sweden to acquire the 'PediaCare' brand for a total consideration of US$ 5 million plus inventory value at closing.

PediaCare is an established paediatric cough, cold and allergy brand with annual sales of approximately US$ 6 Million. PediaCare will form an important part of Strides expanding consumer health care portfolio and brings with it expertise in the paediatric segment as well as    a strong brand name with global potential.

Stock Commentary:

Strides Shasun Ltd is currently trading at Rs 1081.05, up by Rs 6.75 or 0.63% from its previous closing of Rs 1074.3 on the BSE.

The scrip opened at Rs 1077.4 and has touched a high and low of Rs 1094 and Rs 1072 respectively. So far 205589 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 9600.88 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1400 on 10-Dec-2015 and a 52 week low of Rs 848 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 1109.4 and Rs 1000 respectively.

The promoters holding in the company stood at 31.14 % while Institutions and Non-Institutions held 47.91 % and 20.95 % respectively.

The stock is currently trading above its 200 DMA.

***Note: This is a NSE Chart

 

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