Ambalal Sarabhai gains 3% after subsidiary company in JV gets nod from CDSCO to manufacture Covid-19 test

CoSara Diagnostics a JV company of Ambalal Sarabhai Enterprises and Co-Diagnostics, Inc, Salt Lake City, Utah, USA recently got permission to manufacture Covid-19 test with two target genes (RdRP & E).

Nov 27, 2020 03:11 IST India Infoline News Service

CoSara Diagnostics Private Limited, a Joint Venture of a subsidiary of Ambalal Sarabhai Enterprises Limited and Co-Diagnostics, Inc, Salt Lake City, Utah, USA recently got permission to manufacture Covid-19 test with two target genes (RdRP & E) from Central Drugs Standard Control Organisation (CDSCO).

“Like one gene test, this test is also highly specific and sensitive with fast and accurate diagnosis of Covid-19 infection with precise accuracy,” company said in a regulatory filing on Thursday.

“This is one more step towards commitment of providing diagnostic kits helpful in early diagnosis, evaluation and management of treatment,” it added.

Ambalal Sarabhai Enterprises Ltd stock was bullish in the early trade, at 5% higher. At around 9.25 am, the stock was trading at Rs20.80 up by Rs0.65 or 3.23% from its previous closing of Rs20.15 on the BSE.

The scrip opened at Rs21.15 and has touched a high and low of Rs21.15 and Rs20.80 respectively.

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